Microsoft (MSFT) Surpasses Amazon In 12-Month Cloud Revenue

Microsoft,Corporation (NASDAQ:MSFT)

Microsoft’s soaring cloud revenue reached $8.5 billion last quarter. Amazon came out with an impressive $6.68 billion in revenue , Microsoft’s quarter displayed its continued dominance over every segment of the cloud industry.

Forbes provides details:

During his prepared remarks on Microsoft’s earnings call last week, CEO Satya Nadella offered this perspective on the centerpiece of the Microsoft cloud: “Azure is the only hyperscale cloud that extends to the edge across identity, data, application platform and security and management. We introduced 100 new Azure capabilities this quarter alone, focused on both existing workloads like security and new workloads like IoT and Edge AI.”

Nadella tried to differentiate Microsoft from Amazon by referencing the e-commerce giant’s controversial method of underselling merchants with their own products, stating, “No customer wants to be dependent on a provider that sells them technology on one end and competes with them on the other.”

Microsoft, Corporation shares were trading at $102.09 per share on Monday afternoon, down $4.87 (-4.55%). Year-to-date, MSFT has gained 20.89%, versus a -1.00% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of B (Buy), and is ranked #2 of 69 stocks in the Software – Application category.