Microsoft's Azure growth slips below 50% for first time

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Microsoft Corp's flagship cloud computing business Azure reported sales growth of under 50% for the first time ever on Wednesday, sending the tech giant's shares down 3%, even as it beat quarterly revenue estimates.

Microsoft said revenue in its Intelligent Cloud segment rose 17% to $13.4 billion, with 47% growth in Azure. Analysts on average had expected revenue of $13.09 billion, according to IBES data from Refinitiv.

Revenue from its personal computing division, the largest by sales, rose 14% to $12.9 billion, beating analysts' estimates of$11.46 billion. The unit includes Windows software, Xbox gaming consoles, online search advertising and Surface personal computers.

Net income fell to $11.20 billion, or $1.46 per share, from$13.19 billion, or $1.71 per share, a year earlier.

Revenue rose 13% to $38.03 billion in the fourth quarter ended June 30, beating estimates of $36.5 billion, according to IBES data from Refinitiv.

© (c) Copyright Thomson Reuters 2020.

©2020 GPlusMedia Inc.

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And well deserved. They even recently started preventing you from playing some very simple solitaire games without having to endure their ads for other games - at a monthly cost of $3 or annual cost of $15. Talk about greed! Those games were free before Microsoft attached them to their 'cloud'. Disgusting!

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