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[sweepie2] 27/4/2021 21:11

Device Authority look like they are with the right partner, pity nothing about a small bolt on acquisition but plenty of business for DA you would have thought

“Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning,” said Satya Nadella, chief executive officer of Microsoft. “We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform.”



“The Microsoft Cloud, with its end-to-end solutions, continues to provide compelling value to our customers generating $17.7 billion in commercial cloud revenue, up 33% year over year," said Amy Hood, executive vice president and chief financial officer of Microsoft.

[andrbea] 27/4/2021 21:09

Stock Market News
@StockMKTNewz
·
3m
Microsoft $MSFT just reported earnings posting numbers of

EPS of $2.03 beating expecations of $1.78B
Rev of $41.7B beating expecations of $41.05B

[sweepie2] 27/4/2021 21:08

Microsoft Cloud Fuels Third Quarter Results



REDMOND, Wash. — April 27, 2021 — Microsoft Corp. today announced the following results for the quarter ended March 31, 2021, as compared to the corresponding period of last fiscal year:

· Revenue was $41.7 billion and increased 19%

· Operating income was $17.0 billion and increased 31%

· Net income was $15.5 billion GAAP and $14.8 billion non-GAAP, and increased 44% and 38%, respectively

· Diluted earnings per share was $2.03 GAAP and $1.95 non-GAAP, and increased 45% and 39%,respectively

· GAAP results include a $620 million net income tax benefit explained in the Non-GAAP Definition section below



“Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning,” said Satya Nadella, chief executive officer of Microsoft. “We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform.”



“The Microsoft Cloud, with its end-to-end solutions, continues to provide compelling value to our customers generating $17.7 billion in commercial cloud revenue, up 33% year over year," said Amy Hood, executive vice president and chief financial officer of Microsoft.

The following table reconciles our financial results reported in accordance with generally accepted accounting principles (GAAP) to non-GAAP financial results. Additional information regarding our non-GAAP definition is provided below. All growth comparisons relate to the corresponding period in the last fiscal year.



Three Months Ended March 31,

($ in millions, except per share amounts)

Revenue

Operating Income

Net Income

Diluted Earnings per Share

2020 As Reported (GAAP)

$35,021

$12,975

$10,752

$1.40

2021 As Reported (GAAP)

$41,706

$17,048

$15,457

$2.03

Net income tax benefit related to India Supreme Court decision on withholding taxes

-

-

(620)

(0.08)

2021 As Adjusted (non-GAAP)

$41,706

$17,048

$14,837

$1.95

Percentage Change Y/Y (GAAP)

19%

31%

44%

45%

Percentage Change Y/Y (non-GAAP)

19%

31%

38%

39%

Percentage Change Y/Y (non-GAAP) Constant Currency

16%

27%

32%

34%



Business Highlights

Revenue in Productivity and Business Processes was $13.6 billion and increased 15% (up 12% in constant currency), with the following business highlights:

· Office Commercial products and cloud services revenue increased 14% (up 10% in constant currency) driven by Office 365 Commercial revenue growth of 22% (up 19% in constant currency)

· Office Consumer products and cloud services revenue increased 5% (up 2% in constant currency) and Microsoft 365 Consumer subscribers increased to 50.2 million

· LinkedIn revenue increased 25% (up 23% in constant currency)

· Dynamics products and cloud services revenue increased 26% (up 22% in constant currency) driven by Dynamics 365 revenue growth of 45% (up 40% in constant currency)

Revenue in Intelligent Cloud was $15.1 billion and increased 23% (up 20% in constant currency), with the following business highlights:

· Server products and cloud services revenue increased 26% (up 23% in constant currency) driven by Azure revenue growth of 50% (up 46% in constant currency)

Revenue in More Personal Computing was $13.0 billion and increased 19% (up 16% in constant currency), with the following business highlights:

· Windows OEM revenue increased 10%

· Windows Commercial products and cloud services revenue increased 10% (up 7% in constant currency)

· Xbox content and services revenue increased 34% (up 32% in constant currency)

· Search advertising revenue excluding traffic acquisition costs increased 17% (up 14% in constant currency)

· Surface revenue increased 12% (up 7% in constant currency)

Microsoft returned $10.0 billion to shareholders in the form of share repurchases and dividends in the third quarter of fiscal year 2021, an increase of 1% compared to the third quarter of fiscal year 2020.



Business Outlook



Microsoft will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast.



Quarterly Highlights, Product Releases, and Enhancements



Every quarter Microsoft delivers hundreds of products, either as new releases, services, or enhancements to current products and services. These releases are a result of significant research and development investments, made over multiple years, designed to help customers be more productive and secure and to deliver differentiated value across the cloud and the edge.

Here are the major product releases and other highlights for the quarter, organized by product categories, to help illustrate how we are accelerating innovation across our businesses while expanding our market opportunities.

Responding to COVID-19



At Microsoft, our focus remains on ensuring the safety of our employees, striving to protect the health and well-being of the communities in which we operate, and providing technology and resources to our customers and partners to help them do their best work while remote. Additional information about Microsoft’s COVID-19 response can be found here.



Environmental, Social, and Governance (ESG)

To better execute on Microsoft’s mission, we focus our Environmental, Social, and Governance (ESG) efforts where we can have the most positive impact. To learn more about our latest initiatives and priorities, please visit our investor relations ESG website.

Webcast Details



Satya Nadella, chief executive officer, Amy Hood, executive vice president and chief financial officer, Alice Jolla, chief accounting officer, Keith Dolliver, deputy general counsel, and Brett Iversen, general manager of investor relations, will host a conference call and webcast at 2:30 p.m. Pacific time (5:30 p.m. Eastern time) today to discuss details of the company’s performance for the quarter and certain forward-looking information. The session may be accessed at The webcast will be available for replay through the close of business on April 27, 2022.

Non-GAAP Definition

The India Supreme Court Decision Impact. In March 2021, the India Supreme Court issued a decision on withholding taxes in the case of Engineering Analysis Centre of Excellence Private Limited vs The Commissioner of Income Tax. The decision involves appeals filed by 86 individual companies operating in India, some dating back to 2012. Microsoft was not a party to any of the appeals but is impacted by the decision.

Microsoft has historically paid India withholding taxes on software sales through distributor withholding and tax audit assessments in India. The India Supreme Court ruled favorably for the companies in the 86 separate appeals, holding that software sales are not subject to India withholding taxes. Although Microsoft was not a party to the appeals, Microsoft’s software sales in India were determined to be not subject to withholding taxes. Therefore, Microsoft recorded a net income tax benefit of $620 million in the third quarter of fiscal year 2021 to reflect the results of the India Supreme Court decision impacting fiscal year 1996 through fiscal year 2016.

Microsoft has provided non-GAAP financial measures related to the India Supreme Court decision to aid investors in better understanding our performance. Microsoft believes these non-GAAP measures assist investors by providing additional insight into its operational performance and help clarify trends affecting its business. For comparability of reporting, management considers non-GAAP measures in conjunction with GAAP financial results in evaluating business performance. The non-GAAP financial measures presented in this release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

Constant Currency



Microsoft presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. All growth comparisons relate to the corresponding period in the last fiscal year. Microsoft has provided this non-GAAP financial information to aid investors in better understanding our performance. The non-GAAP financial measures presented in this release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

[elbillo] 27/4/2021 21:07

Azure revenue growth up 50% in the qtr.

[upthegardenpath] 27/4/2021 21:03

Are you sure ?

[1happydays] 27/4/2021 21:00

Apologies to Kkriss. Bit grouchy as approaching what would have been missus's due date. You do post some good stuff in fairness m8.

[1happydays] 27/4/2021 20:39

A sponsored MM+M podcast with Talking Medicines

[sarcoline] 27/4/2021 19:25

Meg, understanding your point but their Azure IOT and Azure Sphere sales/revenues announced later this evening are directly linked to Keyscaler revenues so therefore it will be great if they're both performing very well.

It will also be interesting reading their forwards looking statement.

Agreed not to get ahead of ourselves but still believe it's a possibility that Sisto has been told to wait for Microsoft's results before announcing...

On another note, it's not the first time I've seen a little bull flag on the chart (on other stocks), as we finished today on the long term chart and the next trading day witnessed a triple % gain ; )

Cue the looney....

TERN....investment of 2021.

[cheshire] 27/4/2021 19:16

The 3 month chart looks very good, nice steps up as we climb. We don't want anymore spikes.

[stentorian] 27/4/2021 18:58

I see Eutelsat has bought 24% of OneWeb.

[meganxmas] 27/4/2021 18:44

Guys ... I love the developing interactions between DA and MS but I think getting excited about DA being mentioned and or being part of MS results is somewhat premature and certainly getting way too ahead of ourselves. DA is undoubtedly creating a very very nice position within the IOT ecosystem and may just have some secret sauce but that is supposition and for now be satisfied that huge progress is certainly underway and DA could possibly become huge. Just not tonight !!!

[stephen1946] 27/4/2021 18:21

Please can I say a personal thanks to the guys who help settle nerves when things are happening, that Could make people like me, make a mistake, today was a classic, our boys knew, Sargeant Sarco was on the ball, "Steady boys, the natives are having a sing song" Rourks drift, and all that.

Cheers.

Wall St now, roughly 10pm our time. You just never know? exciting 2 weeks coming up.

Great thread, well managed, SW

[sweepie2] 27/4/2021 18:05

Thanks, have a good evening

[sarcoline] 27/4/2021 18:03

About 9pm tonight Sweepie...

Those who say Microsoft results are irrelevant to DA maybe should research the growing Microsoft/DA relationship and understand that their Azure IoT and Azure Sphere sales/revenues are indeed very relevant to DA.

We've already been informed by Sisto that DA had its best ever quarter leading up to the most recent results and I've got one very good guess where the majority of that has come from...

Now back to our very persistent buyer/s....what do they know that we don't......we could very well find out at 9pm...

TERN....investment of 2021.

[sweepie2] 27/4/2021 17:54

What time will Microsoft publish their results just in case, at least we can dream that KeyScaler is doing the business along with Azure if figures are good