Microsoft makes USD 22.33 billion in revenues in the first quarter of 2017 – Share buyback program worth USD 40 billion by the end of 2016

Microsoft has reported the results for the first quarter of 2017, which have positively surprised investors. The revenues in the trimester which ended on September 30 amounted to USD 22.33 billion, compared to USD 21.7 billion in the same period last year.

The segment of cloud services, which increased by 116% to USD 6.38 billion, contributed the most to the growth of revenues. As well, the company has confirmed that it expects the acquisition of LinkedIn to be realized in the second quarter of the fiscal year 2017, as well as the partnership with Adobe.

In late September, the management announced that it planned a share buyback program in the amount of USD 40 billion before the end of 2016, a record amount set aside for the purpose in the past 10 years.

The value of Microsoft's shares increased by 6% following the announcement, Wisebroker reports.

Microsoft software doo Beograd

Microsoft Corporation Washington

Microsoft

Microsoft revenues

Microsoft profit

LinkedIn

Adobe

cloud services