Microsoft's lockdown cloud revenues soar
India, Oct. 28 -- The coronavirus pandemic has driven demand for cloud services sky-high, Microsoft has found as its commercial cloud revenue soars by a yearly 31% to $15.2 billion.
It is generally a good time for the Redmond, Washington-based company.
Its first-quarter revenues, $37.2 billion, are up 12% from the same period a year ago, beating analysts' expectations by $1.5 billion.
The share of gross domestic product spent on information technology is meanwhile set to double in the coming decade, from its current 5%, predicts its chief executive, Satya Nadella.
And this is not a trend COVID-19 is likely to slow.
"In a world of uncertainty and constraints, every person and every organization needs more digital technology to recover...
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