TheStreet is live blogging Microsoft's September quarter earnings report. Please join us!
The Redmond, Washington-based company reported a 14% increase in fiscal first quarter revenue to $33.1 billion on earnings that increased 21% to $1.38 per share. Analysts were expecting the company to report revenue of $32.2 billion on earnings of $1.24 per share.
Microsoft shares were falling despite the beat. The stock was down 0.8% to $136.16 after hours.
The company said that its cloud operations led to the increase in revenue and profits as the company's Azure cloud service segment reported a 59% increase in revenue.
"The world's leading companies are choosing our cloud to build their digital capability," said CEO Satya Nadella. "We are accelerating our innovation across the entire tech stack to deliver new value for customers and investing in large and growing markets with expansive opportunity."
Other Microsoft segments that had a strong quarter included its business processes segment, which reported a 13% increase in revenue to $11.1 billion.
The company said that it will provide forward-looking guidance on its earnings call, which begins at 5:30 p.m. ET.
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