Microsoft gets a pandemic boost thanks to Surface, Xbox, and cloud services
Image by Alex Castro / The Verge
Microsoft posted the first quarter of its 2021 financial results today, reporting revenue of $37.2 billion and a net income of $13.9 billion. Revenue is up 12 percent, and net income has increased by 30 percent. While the ongoing pandemic continues to force many to work remotely during an economic downturn, Microsoft is benefiting from the shift in the way people are now working, playing games more, and connecting to others through videoconferencing.
Cloud services are the biggest boost to Microsoft’s revenues from the pandemic shift in behavior. Both Office commercial and consumer are up, with Office 365 Commercial revenue growth up by 21 percent. Server products and cloud services revenue has also increased 22 percent as more...