Microsoft (MSFT) Q1 Earnings, Revenues Top Estimates, Up Y/Y
Zacks Investment Research | Oct 23, 2019 10:22PM ET
Microsoft Corporation (NASDAQ:MSFT) reported first-quarter fiscal 2020 non-GAAP earnings of $1.38 per share, which beat the Zacks Consensus Estimate of $1.25 per share. The figure also surged 21% on a year-over-year basis (up 25% in constant currency or cc).
Revenues of $33.055 billion improved 14% from the year-ago quarter (up 15% in constant currency or cc). Further, the figure surpassed the Zacks Consensus Estimate of $32.233 billion.
Robust execution and better-than-expected demand from customers for hybrid cloud offerings drove the quarterly results. Moreover, strong Commercial business positively impacted top and bottom line.
Commercial bookings increased 30% (35% at cc), primarily due to robust renewal implementation and increase in the Azure contracts. Commercial unearned revenues were $31.1 billion, up 16% year over year at cc. Commercial revenue annuity mix was 91%, flat year over year.
Commercial cloud revenues were $11.6 billion, surging 36% year over year (39% at cc).
Notably, shares of Microsoft have returned 26.7% in the past one year, outperforming the Zacks Investment Research
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