Reports stated after riding on its growing Intelligent Cloud portfolio and early investments in Intelligent Edge, Microsoft has surpassed $100 billion in revenue for the first time in fiscal year 2018. Meanwhile for the fourth quarter that ended on June 30, the tech giant reported revenue of $30.1 billion and net income of $8.9 billion. Accordingly revenue has increased 17% year over year, and net income is up 35%.
Meanwhile Microsoft stock jumped over 4% in after hours trading as it beat Wall Street expectations. Satya Nadella, CEO, Microsoft said "We had an incredible year, surpassing $100 billion in revenue as a result of our teams' relentless focus on customer success and the trust customers are placing in Microsoft and our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation”.
Amy Hood, Executive Vice President and Chief
Financial Officer of Microsoft said "Exceptional sales execution delivered
double digit revenue growth across all segments and strong progress against our
strategic priorities, anchored by commercial cloud revenue growing 53% year
over year to $6.9 billion”.
136 people died after a ferry capsized on Lake Victoria, Tanzania Accordingly many are missing and it is feared that more than 200 people in total may have drowned. Rescue efforts resumed on Friday after being halted overnight. As per report the MV Nyerere ferry overturned near Ukara Island on its way from Bugorora. Meanwhile it is thought the overloaded vessel tipped over when crowds on board moved to one side as it docked.
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