Microsoft Corp. posted record quarterly sales supported by pandemic-ignited demand for video games and acceleration acquisition of its cloud-computing services during the health crisis.
The remote-work age has been a blessing for Microsoft. In addition to its video game and cloud-computing products, the company has scored solid sales of its Surface laptops as people bought devices to facilitate working from home and distance learning. The use of Microsoft’s Teams workplace-cooperation software, which has been crucial for Chief Executive Satya NAdella, has leaped during the pandemic with its contribution of such services as text chat and videoconferencing.
The software behemoth stated that its fiscal second-quarter net revenue increased more than 30% to $15.5 billion. Sales proceeded 17% to $43.1 billion. Those numbers beat Wall Street’s expectations of net income of $12.6 billion and sales of $40.2 billion, according to FactSet.
Microsoft shares were ahead 4% in after-hours trading. The stock increased more than 40% over the past year.