Microsoft first quarter 2021 earnings received a big boost from the move to remote working and the COVID-19 crisis. Though the company was careful not to credit the global pandemic for their success.
The headline results for the quarter to 30 September 2020, compared to the same period in 2019:
- Revenue was $37.2 billion and increased 12%
- Operating income was $15.9 billion and increased 25%
- Net income was $13.9 billion and increased 30%
- Diluted earnings per share was $1.82 and increased 32%
Microsoft’s cloud services, especially Teams, was well placed to help organizations move to a widely separated workforce. The company moved quickly to boost their features and server resources to meet demand.
Microsoft 365 Consumer option
With its relentless promotion, it’s little wonder that Microsoft 365 Consumer (Family and Personal) now has around 45 million subscribers (it’s not clear if that’s licence purchases or includes users sharing a Family/Home licence).
Revenue from Office Consumer products and cloud services rose 13%. That figure includes ‘better than expected’ sales of Office 2019 which is probably not what Microsoft wants.
On the Commercial side, Office Commercial products and cloud services revenue went up 9% including Office 365 Commercial revenue growth of 21%
More details in the Microsoft press release.