Microsoft has announced its financial results for the third quarter 2016 (I fiscal quarter 2017). Both the company’s revenue and profit have exceeded market expectations in the reporting period.
According to GAAP the quarter revenue has increased by 0.4% year over year to $ 20.45 billion. On the other hand, net income has decreased by 4.3% to $ 4.69 billion.
Search advertising revenue, minus the costs on traffic has increased by 9%.
Productivity and Business Processes sales grew by 6% in comparison with the year on year to $ 6.7 billion, while Intelligent Cloud has increased by 8% to $ 6.4 billion. Azure cloud platform revenue has grown by 116%.
More Personal Computing revenue decreased by 2% to $ 9.3 billion.
The report also states that Microsoft is on the point of closing its acquisition of LinkedIn in the second fiscal quarter 2017.
"We will continue to make new innovations, improve engagement and build our market", - the company’s CEO Satya Nadella comments the quarter results.
With the financial statement published the stock value on the exchange trading has increased by 5.9% to $ 60.23 per share and thus set a new historical maximum.