Microsoft Enjoys Boost in Revenue Due to Pandemic

While the pandemic that the whole world is currently going through has resulted in an economic downturn as well as many companies and industries being forced to reconsider their profit expectations in the near future, the tech industry has not ended up facing any such problems because of the fact that this is the sort of thing that could potentially end up helping people get through lock downs where they would not be able to go out thereby making tech their only outlet that can allow them to connect with other people and pass the time whilst entertaining themselves to a certain extent.

Microsoft’s first quarterly report for 2021 and the results are looking pretty good. Revenue has increased by about 12%, a significant number by any metric, and what’s more is that the increase in net income which is revenue minus expenses is even bigger. Revenue has come in at about $37.2 billion and net income is at $13.9 billion which is a 30% increase, the kind of increase that could help Microsoft plan ahead and make it so that it can become a dominant player in the various industries that it is currently experimenting in.

The fact that people are working from home has allowed Microsoft to cash in on the situation. First things first its video conferencing features have proven to be both popular and profitable, and its foray into cloud based gaming has come at a most opportune moment due to the reason that it has enabled the tech company to give customers trapped at home a new entertainment platform that they can take advantage of.

The good news isn’t just restricted to Office software and cloud gaming either, Microsoft has seen a rise in hardware sales as well with Surface devices seeing a 37% bump in revenue bringing the total up to $1.5 billion at this current point in time. This is particular relevant when you take into account the fact that Surface devices had started to fade into obscurity before the pandemic so this global crisis has ended up becoming Microsoft’s saving grace in a lot of different ways.

When it comes to LinkedIn, Microsoft claims that its social network's "revenue grew 16 percent driven by growth in Marketing Solutions" while LinkedIn's "sessions grew 31 percent with record level of engagement".

Photo: Wellesenterprises via Getty Images

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