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Microsoft: Q1 net income up sharply

( - On Tuesday evening Microsoft unveiled Q1 2020-21, non-GAAP net income that is up 30% at 13.
9 billion dollars, meaning EPS of 1.82 dollars, significantly above the consensus.

The Redmond (Washington State) based IT giant's revenues increased by 12% to nearly 37.2 billion dollars, in particular boosted by a strong demand for the commercial cloud, which generated revenues that rose by 31% to 15.2 billion dollars.

Microsoft added that in the first three months of its fiscal year, it paid out 9.5 billion dollars to its shareholders in the form of dividends and share buybacks, up 21% compared to a year ago.

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