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    Home » Microsoft Quarterly Profit Jumps 48% to $20.5 Billion
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    Microsoft Quarterly Profit Jumps 48% to $20.5 Billion

    October 27, 20211 Min Read
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    Microsoft Corp. posted a 22% increase in quarterly revenues of $45.3 billion, topping Wall Street’s expectations, backed by continued strength in its cloud business.

    • Profits for the third quarter ended Sept.30 rose 48% to reach $20.5 billion, with earnings per share of $2.71, but that comprised an unusual tax benefit of $3.3 billion from a transfer of “certain intangible properties” from its Puerto Rico subsidiary to the U.S.
    • Revenues for Microsoft Cloud jumped 36% to reach $20.7 billion, surpassing $20 billion in the first quarter ever in the company’s history.
    • Revenue obtained by LinkedIn expanded 42% to $3.14 billion for the quarter, driven by the growth of 61% in LinkedIn’s Marketing Solutions business that companies use to generate sales leads and sales.
    • Microsoft CEO Satya Nadella addressed the wider economic trends in the earnings release, describing digital technology as “ a deflationary force in an inflationary economy.”

    Gaming revenue expanded 16% to $3.6 billion, backed by Xbox hardware growth. Surface revenue dropped 17% to $1.3 billion.

    MSFT up +1.54%, Pre-market tradingSource: Microsoft

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