Microsoft’s cloud bet pushes annual sales over US$100 billion

Microsoft’s bet on the cloud helped propel the company to its first $100 billion (FJ$ 201 billion) sales year. Microsoft (MSFT) said on Thursday that it posted $110 billion (FJ$ 220 billion) in sales for the 2018 fiscal year ending in June, a 14 per cent increase over the prior year. CEO Satya Nadella credited “early investments” in cloud services for the results.

The company’s commercial cloud business hit $6.9 billion (FJ$ 13 billion) in the last quarter, jumping 53 per cent from the same period last year. That helped push Microsoft’s overall quarterly sales to $30.1 billion (FJ$ 61 billion), a 17 per cent increase from a year ago. CNN MONEY