Microsoft Q1 revenue beats estimate as remote work boosts Teams, Xbox gaming

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Late on Wednesday, the 29th of April 2020, the Silicon Valley’s glittering star, Microsoft Corp. had released its earnings’ report for the third quarter of the year that ended on March 31st, which had beaten Wall St.

estimates for sales and operating profits, mostly driven by a steep upsurge in Xbox gaming services alongside Team chat and online meeting app, as nearly half of the world’s population remained under forced lock down in order to contain the pandemic outbreak.

Besides, followed by the reveal of its upbeat Q3 earnings’ report, shares’ prices of Microsoft Corp., which had gained 12 per cent thus far this year, had climbed 5 per cent in Wednesday’s (April 29th) extended trading and rose by 1 per cent to $179.21 per share on Thursday’s (April 30th) Wall St.

closure. Nonetheless, on Thursday’s (April 30th) after-market trading, shares of Redmond-based Microsoft Corp. had pared earlier gains and were trading 1.23 per cent lower to $177.00 per share following release of a basket of dismal data.

Aside from that, as the Washington-based American multinational software manufacturer that had evolved as a cloud computing major since 2014, had reported a 15 per cent growth in revenues to $35.02 billion over its third quarter of the year, beating an analysts’ estimate of $33.66 billion, voicing a cautiously optimistic tone, Microsoft Corp.

Chief Executive Satya Nadella said in a post-earnings’ conference with the analysts late on Wednesday (April 29th), “Ultimately, Microsoft is not immune from what is going on broadly in the world in terms of GDP growth.

Immediate term, we are mostly building out the relationships, adding new customers, adding intensity and usage in existing relationships. ”