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Microsoft's quarterly profit rises 27.8 percent

Published 04/27/2017, 04:20 PM
Updated 04/27/2017, 04:30 PM
© Reuters. Microsoft's quarterly profit rises 27.8 percent
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(Reuters) - Microsoft Corp (O:MSFT) reported a 27.8 percent increase in quarterly profit on Thursday, lifted by robust demand for its cloud computing services.

The company's net income rose to $4.80 billion, or 61 cents per share, in the third quarter ended March 31, from $3.76 billion, or 47 cents per share, a year earlier.

Revenue on an adjusted basis climbed 6 percent to $23.56 billion.

Under Chief Executive Satya Nadella, who took the helm in 2014, Microsoft has sharpened its focus on the fast-growing cloud computing unit to counter a prolonged slowdown in the PC market, which has weighed on demand for its Windows software.

The company's flagship cloud computing platform, Azure, competes with Amazon.com Inc's (O:AMZN) Amazon Web Services, the market leader in cloud infrastructure.

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