Microsoft posts strong quarterly results after offering buyouts to 60,000 staff
Software giant reports $92.3bn in revenue and $36.6bn in profit, beating expectations, as cloud division surges.
At a glance
- Microsoft reported $92.3bn in quarterly revenue and $36.6bn in profit
- Results exceeded Wall Street expectations
- Azure cloud division grew 48% in the September quarter
- Announcement followed voluntary buyout offers to around 60,000 employees
Microsoft reported quarterly revenue of $92.3bn and profit of $36.6bn, exceeding Wall Street forecasts. The results boosted the company's stock market value by billions of dollars.
The growth was driven by Microsoft's Azure cloud computing division, which expanded by 48% during the September quarter. The announcement came days after the company offered voluntary buyouts to approximately 60,000 employees.
Why it matters
Microsoft's strong cloud growth reflects ongoing demand for computing services, while the simultaneous buyout offers signal the company is restructuring its workforce.
Original reporting
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