Microsoft released its quarterly financial statements today for fiscal Q2 2020. Companywide, revenue and profits were up. For gaming and the Xbox division, revenue was down.
The company reported quarterly revenue of $36.9 billion, an increase of 14 percent over the same period the year prior. The financial report covers the period from October 1, 2019, through December 31, 2019.
However, the news was not so good for the company’s gaming efforts. Gaming revenue for the quarter declined 21 percent, according to an earnings call slide. Specifically, Xbox content and services revenue decreased 11 percent for the quarter.
Of course, Microsoft has several brights spots. LinkedIn revenue increased 24 percent for the quarter. The company also reported that server products and cloud services revenue increased 30 percent. In particular, Azure revenue grew 62 percent.
All told, the positives outweighed the negatives from the report. And Wall Street took notice of the earnings beat. The company’s stock is currently at an all-time high.