Microsoft beats by $0.08, beats on revs :
- Reports Q1 (Sep) earnings of $0.76 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.68; adj. revenues rose 3.1% year/year to $22.33 bln vs the $21.69 bln Capital IQ Consensus.
- Revenue in Productivity and Business Processes grew 6% (up 8% in constant currency) to $6.7 bln vs. $6.4-6.6 bln guidance, with the following business highlights:
- Office commercial products and cloud services revenue grew 5% (up 8% in constant currency) driven by Office 365 commercial revenue growth of 51% (up 54% in constant currency)
- Office consumer products and cloud services revenue grew 8% (up 8% in constant currency) and Office 365 consumer subscribers increased to 24.0 mln
- Dynamics products and cloud services revenue grew 11% (up 13% in constant currency) driven by Dynamics online revenue growth
- Revenue in Intelligent Cloud grew 8% (up 10% in constant currency) to $6.4 bln vs. $6.1-6.3 bln guidance, with the following business highlights:
- Server products and cloud services revenue increased 11% (up 13% in constant currency) driven by double-digit annuity revenue growth Azure revenue grew 116% (up 121% in constant currency) with Azure compute usage more than doubling year-over-year
- Enterprise Services revenue increased 1% (up 2% in constant currency) with growth in Premier Support Services and consulting offset by declines in custom support agreements
- Revenue in More Personal Computing declined 2% (down 1% in constant currency) to $9.3 bln vs. $8.7-9.0 bln guidance, with the following business highlights:
- Windows OEM revenue was flat year-over-year (flat in constant currency), slightly ahead of the PC market
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