Microsoft has posted its first quarter results for FY 2020 and it looks like the IT services giant is doing just fine. The company saw its revenue rise to $33.1 billion which was a 14% increase from the corresponding period last fiscal year.
During the Q1, Microsoft was able to return $7.9 billion to its stakeholders in dividends and share repurchases. This was a 28% increase in comparison to the first quarter of FY2019.
“The world’s leading companies are choosing our cloud to build their digital capability,” said Satya Nadella, chief executive officer of Microsoft. “We are accelerating our innovation across the entire tech stack to deliver new value for customers and investing in large and growing markets with expansive opportunity.”
The company has done really well where its revenue was driven mainly by its cloud prowess. The commercial cloud generated $11.6 billion in revenue for the quarter (a 36% increase year over year).
The Office products along with cloud service offerings were a big contributor to the revenue increase. LinkedIn revenue increased by 25% as well. While the revenue in Personal Computing rose by just 4% driven by Windows OEM, Xbox sales, and search advertising revenue. The only drop in revenue came from Microsoft’s Surface which saw the revenue go down by 4%.