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Microsoft making huge profits with the demand of cloud is sky high during pandemic
"The first quarter of 2021 has been extremely beneficial financially for the sale of PCs in part due to unfulfilled demand because of a components backlog."
Microsoft has made a huge profit in the first three months of 2021, as the demand for its cloud computing services has been soaring through the roof.
The company reported a profit of $14.8 billion within the fiscal third quarter which is up by 38% compared to the same period last year.
With the ongoing pandemic, we are witnessing more and more adoption of digital work and study life, in the last year.
Revenue from Microsoft's productivity segment, which includes its Office suite of workplace products such as email, grew by 15% over the same time last year, to $13.6 billion.
Whereas the cloud computing business segment of Microsoft grew 23% to $15.1 billion.
The first quarter of 2021 has been extremely beneficial financially for the sale of PCs in part due to unfulfilled demand because of a components backlog.
Also due to an unusually weak first quarter of 2020, the industry has achieved a major rise in business.
All the bottled-up demand for consoles during the Christmas season also resulted in a 34% rise in sales of Xbox content and services early this year.
The big businesses, government bodies, and the rest of the workforce committing to their jobs online have boosted the growth of cloud services procurement.
Microsoft is buying Massachusetts speech recognition company Nuance for $ 16 billion, which will take the company deeper into health care industry, with Nuance's medical dictation and transcription tools.
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