Microsoft’s mighty corporate software business helped increase the company’s profit 17 percent, even as the company continued to struggle in mobile and other consumer markets.
The company, based in Redmond, Wash., reported net income of $5.24 billion, or 62 cents a share, for the quarter ended Sept. 30, up from $4.47 billion, or 53 cents a share, during the same period a year earlier. Its revenue surged 16 percent, to $18.53 billion, from $16.01 billion a year earlier.
The results were better than Wall Street had been expecting. Analysts were expecting Microsoft to report earnings of 54 cents a share and revenue of $17.79 billion, according to an average of estimates by Thomson Reuters.
Microsoft shares fell 4 cents to $33.72 in regular trading, but jumped 6 percent in after-hours trading following the release of its results.