Tech ETFs To Buy As Microsoft Beats Big On Earnings
Zacks Investment Research | Jul 20, 2017 10:10PM ET
After the closing bell on Thursday, the world's largest software maker Microsoft (NASDAQ:MSFT) delighted investors with stellar fourth-quarter fiscal 2017 results on strong performance by its fast-growing cloud business. Earnings per share came in at 98 cents, easily outpacing the Zacks Consensus Estimate of 71 cents and higher than the year-ago earnings of 69 cents. Revenues rose 13% year over year to $24.7 billion topping our estimate of $24.12 billion.
The outperformance was credited to the strength in the cloud business, particularly Azure, whose sales grew 97% from the year-ago period. Investors should note that Microsoft’s total cloud business brought in about $7.4 billion in the fiscal fourth quarter. This clearly shows that Satya Nadella’s efforts to turn around the business, and focus on cloud services and mobile applications are paying off and beneficial for the company’s future growth (read: Zacks Investment Research
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