Microsoft sales rise as working from home creates greater demand in COVID-19 crisis

By Syed Sajid Aziz in USA
(Pakistan News & Features Services)

The ongoing coronavirus (COVID-19) pandemic has brought about catastrophes to many business houses but the profits of Microsoft Corporation have continued to rise in this period.

The American multinational technology company, headquartered in Redmond, Washington, has disclosed that its quarterly sales and profit rose, buoyed by demand for internet-based software and cloud services needed to accommodate a shift to remote working during the coronavirus period. 

According to a company statement issued on April 29, the profit in the period ending on March 31, rose to US$ 10.8 billion ($16.5 billion), or US$ 1.40 a share while sales rose 15 per cent to US$ 35 billion. 

The results from the world's largest software maker topped analysts' average estimates for US$ 1.28 a share in profit and US$ 33.7 billion in sales, according to data compiled by Bloomberg.

Founded by Bill Gates, Microsoft is believed to have thrived during the COVID-19 pandemic because of its focus on cloud offerings, like Office productivity tools, Azure services and subscription programs that are less vulnerable to spending slumps. 

Even the Windows PC-software and Surface device units did better than the company had projected, thanks to an easing in supply-chain disruptions in China just as workers began to stock up on new gear in March to outfit home offices.