Demand for Microsoft’s cloud-computing services and work software helped boost its quarterly profits by 21% as the pandemic continued to keep many office workers at home. The Redmond, Washington company on Tuesday reported fiscal second-quarter profit of $18.8 billion. It posted revenue of $51.7 billion for the October-December period, up 20% from a year earlier. Microsoft last week announced its plans to buy high-profile game publisher Activision-Blizzard for $68.7 billion, an all-cash deal that could be the priciest tech acquisition in history. But the financial results revealed Tuesday show that business-focused products such as Microsoft’s Azure cloud computing platform and its suite of software products are still driving the company’s growth.
Microsoft profits up 21%, giving cushion for gaming push
