Microsoft reports $10.8 billion in profit, COVID-19 had ‘minimal net impact’

San Francisco: Riding once again on its Azure Cloud business, Microsoft reported $35 billion in sales up 15 per cent year-on-year in its third quarter of 2020, with net income at $10.8 billion (up 22 per cent).

The company saw tremendous growth in the productivity and business processes and Intelligent Cloud segments as cloud usage increased, particularly in Microsoft 365 including Teams, as customers shifted to work and learn from home.

It, however, admitted that in the final weeks of the quarter, there was a slowdown in transactional licensing, particularly in small and medium businesses, and a reduction in advertising spend in LinkedIn.