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Microsoft s fiscal third quarter net profit increased an annual 43.7 per cent on strong cloud, gaming and personal computing businesses as well as a net income-tax benefit.
Net profit surged to $15.5 billion in the three months to March 31. Revenue during the period soared 19 per cent to more than $41.7bn, exceeding the company’s own guidance as well as the analysts’ average estimate of $41.03bn. The company also registered a $620 million net income-tax benefit.
The January-March period marked the Redmond-headquartered company’s 15th straight quarter of double-digit revenue growth. The company s stock was down nearly 3 per cent in after hours trading. The share price has increased more than 50 per cent in the past year giving the company a market capitalisation of $1.98 trillion.