Microsoft beats Q1 estimates, credits cloud business
On Tuesday, Microsoft announced its fiscal Q1 2021 earnings, beating analysts’ expectations on the strength of its cloud business. The tech company reported revenue of $37.2 billion, beating the Street estimate of $35.76 billion. Yahoo Finance’s Myles Udland breaks down the latest.
Video Transcript
SEANA SMITH: We continue to get these earnings reports, and Myles Udland, you have the numbers for Microsoft. Myles.
MYLES UDLAND: Yeah, a quick look at Microsoft's quarter, just kind of crossing the tape here. The company beating on the top and the bottom line. Adjusted earnings per share-- or I should say, earnings per share coming in $1.82. The Street was looking for adjusted earnings of $1.55 per share. We'll take a look and then see if they exactly compare their revenue.
Microsoft beating expectations top line, $37.15 billion for the company in its most recent quarter. 35 and 3/4 is what the Street had been expecting there. Looking at a couple of Microsoft's business units, intelligent cloud, $12.99 billion in revenue in the most recent quarter. The Street was looking for $12.8 billion.
And then on the Productivity Business Suite, this is basically the professional Word suite, I guess you could call it. $12.32 billion in revenue in the most recent quarter. The Street was looking for 11.85. Stock here not doing a lot after hours, up about 3/10 of 1%. Jared just mentioned shares were higher during today's regular trading session, up about 1 and 1/2%.
So, again, not a ton of reaction yet to Microsoft's numbers out yet. But again, company beating top and bottom lines. We'll have more for you as we get it. Seana.
SEANA SMITH: All right. Thanks so much, Myles. Again, the stock up just around 3/10 of a percent, so not much movement, like you were saying, trading just around $213 a share.
