Microsoft earnings: 84 cents a share vs 72 cents EPS expected

Microsoft CEO Satya Nadella at the Geek Wire Summit

Microsoft today announced its quarterly earnings for its first financial quarter of 2018 (yes, I know it's early, but that's how Microsoft's financial quarters work).

Intelligent Cloud: This segment, which includes results from server products and services (including Windows Server and Azure), grew 14 percent to $6.9 billion. As predicted Microsoft was able to beat their 2015 goal of $20 billion in annualized run rate for the commercial cloud.

Microsoft's stock was up about 2 percent at $80.25 in after-hours trading. Depending on how you're counting (Microsoft's 2018 fiscal year started in July), Nadella delivered right on time or slightly ahead of schedule.

LinkedIn reported revenue of $1.1 billion in the previous quarter and it once again came in at exactly the same number.

Azure, Microsoft's cloud unit, saw revenue growth of 90% in the latest period.

Office consumer products and cloud services revenue increased by 12% (10% in CC), and there are now 28 million consumer Office 365 subscribers.

An promotional video plays behind a window reflecting a nearby building at the Microsoft office in Cambridge, Massachusetts, U.S. on May 15, 2017. "Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform".

Microsoft reported revenue of $24.5 billion for the quarter, up almost 12 percent over the same period a year ago.

PiperJaffray analysts Alex Zukin, Scott Wilson and Taylor Reiners had expected 30 percent growth in Office 365 commercial revenue, which would have been down from more than 40 percent in revenue growth in the past two years. Surface revenue increased by 12 percent and gaming revenue was up only 1 percent (Xbox revenue grew 21 percent, but was offset by lower hardware revenue).

As for Windows, revenue from companies putting Pro versions of the operating system on devices was up by 4 percent.

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