Microsoft posted quarterly results today that were well ahead of analysts& expectations, but Azure growth rate continues to decline as it competes with AWS.The company revenue for the first quarter of the fiscal year rose 14% year-over-year to $33.1 billion.
Net income increased 21% to $10.7 billion, or $1.38 per share.Revenue from Microsoft Productivity and Business Processes segment, which includes its Office products and LinkedIn, grew 13% to $11.1 billion.
LinkedIn revenue increased by 25%.Meanwhile, its Intelligent Cloud segment revenue increased 27% to $10.8 billion, with revenue from server products and cloud services growing 30%.
The company said Azure revenue grew by 59%, but that represents a decline in growth rate that began a year ago, when Azure clocked quarterly growth of 76%.
The rate has fallen more since then, with today report representing a drop from the 64% growth reported in the previous quarter.Revenue from Microsoft personal computing segment grew 4% to $11.1 billion.The company said it expects second-quarter revenue to be in the range of $35.15 billion to $35.95 billion.