Net income totaled $10.752 billion, or $1.40 per share in the quarter, up from $8.809 billion, or $1.14 per share a year ago. Analysts polled by Bloomberg forecast EPS of $1.28 in the latest quarter.
Microsoft posted revenue of $35.021 billion in the latest quarter, up 15% from $30.571 billion a year earlier. Analysts had predicted $33.6 billion for the latest quarter.
Microsoft stock stood at $180.99 in after-hours trading, up 2.01%.
The coronavirus pandemic didn’t hold the company back.
“We’ve seen two years’ worth of digital transformation in two months. From remote teamwork and learning, to sales and customer service, to critical cloud infrastructure and security,” Microsoft CEO Satya Nadella said in a statement.
“We are working alongside customers every day to help them adapt and stay open for business in a world of remote everything. Our durable business model, diversified portfolio, and differentiated technology stack position us well for what’s ahead.”
The tech titan’s cloud services led the way.
“In this dynamic environment, our sales teams and partners executed a solid third quarter, with Commercial Cloud revenue generating $13.3 billion, up 39% year over year," Microsoft CFO Amy Hood said in the company statement.
“We remain committed to balancing operational discipline with continued investments in key strategic areas to drive future growth.”
To be sure, “the effects of Covid-19 may not be fully reflected in the financial results until future periods,” the company said.
Microsoft shares h gained 7% over the last three months through Wednesday’s close, compared to a 10% slide for the S&P 500.