Microsoft has exceeded expectations across every part of its business

The most valuable company in the US is polishing its crown. Microsoft has exceeded expectations across every part of its business in the three months to the end of June. While other big tech companies face rising costs to find new users, Microsoft has been selling cloud services to software customers, fattening revenues and margins. Boss Satya Nadella, recently the subject of a beatific magazine cover that will have left Silicon Valley bosses making needy calls to their PR teams, is in an enviable situation… Microsoft can look back on the fourth quarter of its financial year with satisfaction. Revenues of nearly $34 billion included $11 billion in “intelligent cloud” revenue… If companies are still in the early stages of moving their data to the cloud Microsoft, Amazon, Google, IBM and other vendors can expect a good few years… Perhaps Microsoft is not drawing customers in purelywith its superior cloud business, but because it has services to offer. These products do not generate a lot of noise. But they have a huge user base. Take Teams, Microsoft’s office messaging service. This claims 3 million more daily users than rival Slack. What Microsoft lacks in fashionable services, it makes up for with scale. It has swerved the backlash against tech companies… On balance, Mr Nadella has plenty to smile about.