Wondering just how well Microsoft is doing in the IT cloud?
The technology giant this week announced its results from fiscal year 2016, earning US$5.5 billion in profits and US$22.6 billion in revenue, with both Windows 10 and Office 365 both performing well.
Many eyes were on its cloud business, however, which Microsoft CEO Satya Nadella said should reach US$20 billion in revenue during its 2018 fiscal year, which runs July 2017 to 2018. According to results from this quarter and projections based on momentum, Microsoft will likely hit that target.
Market research firm Statista estimates that at its current growth rate, Microsoft may reach US$20 billion in revenue run rate even before the end of Q4 2017 for its Office 365, Azure, Dynamics Online and other properties.