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Microsoft Profits Rises by 14 Percent Making its Value Close in Trillion Dollar Mark

Profits in the quarter to March 31 rose 19 percent to $8.8 billion on revenues of $30.8 billion, an increase of 14 percent from the same period a year earlier

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FILE - A sign for Microsoft is seen on a building in Cambridge, Massachusetts, March 18, 2017. VOA

Microsoft said profits climbed in the past quarter on its cloud and business services as the U.S. technology giant saw its market value close in on the trillion-dollar mark.

Profits in the quarter to March 31 rose 19 percent to $8.8 billion on revenues of $30.8 billion, an increase of 14 percent from the same period a year earlier. Microsoft shares gained some 3% in after-hours trade, pushing it closer to $1 trillion in value.

It ended the session Wednesday with a market valuation of some $960 million, just behind Apple but ahead of Amazon.

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Profits in the quarter to March 31 rose 19 percent to $8.8 billion on revenues of $30.8 billion, an increase of 14 percent from the same period a year earlier. Pixabay

In the fiscal third quarter, Microsoft showed its reliance on cloud computing and other business services which now drive its earnings, in contrast to its earlier days when it focused on consumer PC software.

“Leading organizations of every size in every industry trust the Microsoft cloud,” chief executive Satya Nadella said in a statement.

Commercial cloud revenue rose 41% from a year ago to $9.6 billion, which now makes up nearly a third of sales, Microsoft said.

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Microsoft shares gained some 3% in after-hours trade, pushing it closer to $1 trillion in value. Pixabay

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Some $10.2 billion in revenue came from the “productivity and business services” unit which includes its Office software suite for both consumers and enterprises, and the LinkedIn professional social network.

The “more personal computing” unit which includes its Windows software, Surface devices and gaming operations generated $10.6 billion in the quarter. (VOA)

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Microsoft Joins Hands with Eros Now to Develop Next-generation Online Video Platform

The collaboration would help Eros transform not only how it delivers streaming services to its consumers but also to reimagine the offerings it can provide

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FILE - Microsoft Corp. signage is seen outside the Microsoft Visitor Center in Redmond, Washington, July 3, 2014. VOA

Over-the-top (OTT) video platform Eros Now on Thursday joined hands with Microsoft to build a next-generation online video platform on the latter”s cloud computing service “Azure”.

“The online video market has brought a paradigm shift in the way technology is used and will be used to enhance the customer journey and user experience. We at Eros Now have been the earliest movers in the adoption of technology which is a core strength of the brand,” Rishika Lulla Singh, CEO-Eros Digital, said in a statement.

Using Microsoft Azure and Azure Media Services, Eros would develop a new, intuitive online video platform that would provide seamless delivery of content for its consumers across geographies and languages, supported by a robust infrastructure including Azure Content Delivery Network (CDN).

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FILE – A sign for Microsoft is seen on a building in Cambridge, Massachusetts, March 18, 2017. VOA

“By using our combined expertise across technology and media, we have an opportunity to build on that foundation and re-imagine entertainment for the rapidly growing audience of digitally-connected consumers in India,” added Peggy Johnson, Executive Vice President, Microsoft.

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The collaboration would help Eros transform not only how it delivers streaming services to its consumers but also to reimagine the offerings it can provide.

“India is one of the fastest-growing digital entertainment and media markets worldwide, driven by the growth in online video content. AI and intelligent cloud tools will be the next drivers of the media business and will impact everything from content creation to consumer experience,” said Anant Maheshwari, President, Microsoft India. (IANS)