Microsoft Shares Rise on Quarterly Earnings and Sales Beat

'It was a record fiscal year for Microsoft,' boasted CEO Satya Nadella in a press release.
By Nelson Wang ,

Microsoft (MSFT) - Get Report justified its trillion-dollar valuation on Thursday, reporting robust June quarter (fiscal fourth quarter) results that beat expectations for both the top and bottom lines. 

TheStreet is live blogging Microsoft's June quarter earnings. Please join us!

The software giant reported GAAP earnings per share of $1.37 versus expectations of $1.21, while  revenues of $33.72 billion surpassed estimates for $32.77 billion. Its closely-watched Azure cloud business increased revenues by 64% year-over-year, a decline from the previous quarter's growth of 73%, but Microsoft had previously warned that Azure growth would slow somewhat  due to lower growth rates for "per-user" revenue streams such as enterprise mobility software subscriptions.

Shares were rising 1.7% to $138.74 in after-hours trading and are up roughly 35% year to date.

"It was a record fiscal year for Microsoft, a result of our deep partnerships with leading companies in every industry," said Satya Nadella, chief executive officer of Microsoft, in a press release.

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