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Microsoft's cloud services drive fiscal Q1'20 revenue growth

Microsoft Corp. on Oct. 23 reported total revenue of $33.06 billion for its fiscal first quarter ended Sept. 30, up 14% from $29.08 billion in the prior-year period.

Net income for the quarter totaled $10.68 billion, or $1.38 per share, up 21% from $8.82 billion, or $1.14 per share, a year ago. The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $1.24.

Looking at segment revenues, productivity and business processes grew 13% year over year to $11.08 billion, intelligent cloud swelled 27% to $10.85 billion and personal computing rose 4% $11.13 billion.