Microsoft qualified the good news with an admission that while the virus has not yet impacted its balance sheet, it might in future quarters.
The software giant's shares rose less than 1% to $178.40 in afternoon USA trading on Thursday after advancing 13% over the past month.
Microsoft returned $9.9 billion to shareholders in the quarter, and spent $3.9 billion on capital expenditures. Revenue numbers eclipsed even late-January estimates made before the COVID-19 pandemic struck outside China.
Microsoft is thriving business-wise from the coronavirus outbreak.
Shares rose three percent in after-hours trade in Microsoft, which is the most valuable tech firm with a market capitalization of more than $1.3 billion.
CEO Satya Nadella put the results into the context of the times. Microsoft saw $1.40 in earnings per share in the quarter. Similarly, Microsoft saw declines in advertising spending both for search and for the career-related LinkedIn social media network.
And the cloud was clearly the place to be during the past month of lockdowns. Its net income more than doubled to 4.9 billion dollars. The company results, posted after the market closed, helped boost shares an additional 2.5 percent in after-hours trading, just shy of its highest close of $181.85, achieved February 10. "Significant improvement in Azure gross margin percentage, including some benefit from short-term utilization gains as we worked through COVID-19 related supply chain constraints, more than offset sales mix shift to Azure", she said.
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Nadella said that they are accelerating Teams innovation, adding new capabilities each week and now support meetings of all sizes, "meetings that scale from 250 active participants to live events for up to 100,000 attendees to streaming broadcast". "For many customers, being able to run Microsoft applications on the Azure cloud is a key factor in choosing Microsoft".
Microsoft noted a few financial setbacks from the pandemic. "Microsoft offers products and services that are helping organizations get through the crisis", he said.
Microsoft Dynamics grew 17% YoY and the Product and Business Processes division increased 15% with revenue of $11.7 billion.
"Office Commercial products and cloud services revenue increased 13 per cent, driven by Office 365 Commercial revenue growth of 25 per cent".
Big information technology providers have benefited as anxious executives have turned them to do quick deployments of services such as collaboration and videoconferencing and received a generally rapid response.
But it said it was forced to adapt quickly as businesses and consumers moved into lockdown due to the global health emergency.