Microsoft’s profits soared during the first three months of 2021, thanks to ongoing demand for its software and cloud computing services during the pandemic.
The company on Tuesday reported fiscal third-quarter profit of $14.8 billion, up 38% from the same period last year. “Over a year into the pandemic, digital adoption curves aren’t slowing down.
They’re accelerating, and it’s just the beginning,” CEO Satya Nadella said in a statement. Net income of $1.95 per share beat Wall Street expectations.
Analysts were expecting Microsoft to earn $1.78 per share on revenue of $41 billion for the fiscal quarter ending in March, according to FactSet.