84 cents a share vs 72 cents EPS expected — Microsoft earnings

Microsoft CEO Satya Nadella at the Geek Wire Summit

Within Intelligent Cloud, server products and cloud services revenue increased 17 percent driven by Azure revenue growth of 90 percent.

It reported $24.5 billion in overall revenue, which is a 12 percent increase from this time past year. As usual, things like Surface, Office 365, cloud services like Azure, and Windows all saw growth.

Productivity and Business Processes: This segment, which includes results from Office and Office 365 (commercial and consumer customers), grew 28 percent to $8.2 billion. The changes also have the approval of shareholders, whose optimism has nearly doubled the company's stock price during Nadella's three and a half years as CEO.

Net income was $6.6 billion and increased 16%.

Microsoft predicts that it will bring in 83 cents per share in earnings for its current quarter on an adjusted basis. The stock jumped 8.1 percent in the quarter, compared with a 4 percent gain in the Standard & Poor's 500 Index.

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"This quarter we exceeded $20 billion in commercial cloud ARR, outpacing the goal we set just over two years ago", said CEO Satya Nadella.

"We're seeing customers, as they continue to use Azure, start to consume the premium services", like AI and data analytics software that are much more profitable, Hood said in an interview. Microsoft doesn't break out revenue for its Windows business. The Office product line, which consists of internet-based versions of Word, Excel and other workplace productivity software, posted sales growth of 42 percent. While that may seem like a big but arbitrary milestone, it's an important one for Microsoft.

MPC (more personal computing) segment derives the majority of its revenues from the PC (personal computing) market.

Surface revenue by itself was up 12% from a year ago, which is good news for Microsoft following a dip in the previous quarter.

Operating income was $7.7 billion and increased 15%. By contrast, the PC industry as a whole is still shrinking. Office consumer products and cloud revenues rose 12%, while Dynamics products and cloud revenues rose 13%, including a 69% increase in Dynamics 365 revenue.

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