Microsoft (NASDAQ: MSFT) traded weakly on Wednesday. The company’s March quarter results were not impressed by many.
Since the outbreak, the stock has gained more than 70% despite being worth more than $1 trillion. At the close on Monday, it was trading at 35 times its 2020 earnings.
Results showed growth across all segments of the company, including the Windows platform, cloud services, LinkedIn, Xbox, Search, and Surface.
On the same day, Alphabet’s (NASDAQ: GOOGL) results showed a 34% increase in revenue to $55.31 billion. Microsoft revenue was $41.7 billion in the quarter to March, up 19% from the same period last year. Xbox revenue also grew 34%.
Net income increased 44% to $15.5 billion. Its earnings per diluted share rose 45% to $2.03.
LinkedIn revenue rose 25%. Advertising revenue on the social media platform for online business and professionals for the full year exceeded $3 billion.
Server products and cloud services revenue increased by 26% thanks to a 50% growth in Azure revenue.