A Microsoft office in Los Angeles, California, the US. Picture: REUTERS/LUCY NICHOLSON
Microsoft’s market value now tops $2-trillion, and the high-flying shares have led investors to expect results to outdistance projections by a wide margin, said Brent Thill, an analyst at Jefferies, in a note before the numbers were released. Azure revenue had gained 50% from a year earlier for the two prior quarters, not taking into account currency fluctuations. In the March quarter, Azure posted a 46% sales gain in constant currency -- so on that basis, the recent period’s increase marked a slowdown.
“This year has been great because of the accounting change but that particular boost is hiding the fact that gross margin is being hurt by the faster-growing Azure business,” Rana said before the results.
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