Microsoft Corporation (NASDAQ:MSFT) posted better-than-expected financial results for its fiscal second quarter, which drove its stock price higher by 3.5% to $37.32 per share after hours on Thursday.
Based on the financial statement of Microsoft Corporation (NASDAQ:MSFT), its profit for the quarter was $6.56 billion or $$0.78 per share compared with its previous earnings of $6.38 billion or $0.76 per share in the same period a year earlier. The earnings of the company exceeded the $0.68 per share estimated by Wall Street analysts.
The software giant said its revenue increased from $21.45 billion last year to $24.52 billion. According to the company, the revenue of its Devices and Consumer segment went up by 13% to $11.91 billion, which was driven by strong sales of Windows OEM Pro and Surface.
Its Commercial segment generated $12.67 billion, up by 10% primarily due to strong demand for its Xbox console units during the holiday shopping season. During the quarter, Microsoft Corporation sold 3.9 million Xbox One and 3.5 million Xbox 360. Overall, the software giant sold 7.4 million game consoles.
Amy Hood, chief financial officer of Microsoft Corporation (NASDAQ:MSFT) said, “We delivered record revenue as demand for our business offerings remains high and we made strong progress in our Devices and Consumer segment. These results reflect our focus on execution, cost discipline, and long-term shareholder value as we continue to drive the strategic transformation of the company.”
Steve Ballmer, CEO of Microsoft Corporation (NASDAQ:MSFT) emphasized that the Commercial segment of the company continues to outperform the overall market. He added that its Devices and Consumer segment experienced a great holiday quarter.
“The investments we are making in devices and services that deliver high-value experiences to our customers, and the work we are doing with our partners, are driving strong results and positioning us well for long-term growth,” said Ballmer.
Last August, Ballmer announced that he will retire from his position over the next twelve month. Microsoft Corporation (NASDAQ:MSFT) did not mention any update regarding its search for the next CEO.
Collin Gillis, analyst at BGC Financial commented, “It’s a good print to ride off into the sunset with, for the current. There’s still the over-arching question for this company: who’s going to be the new CEO, and what direction they take.”
