Microsoft’s search business, aka Bing, is displaying solid momentum after growing 15% YoY in FY first quarter of the year 2018. Microsoft reported that this positive growth was the result of increased revenue per search and increased search volume.
Earlier, the company showed significant search market share gains in the USA and Europe, claiming more than 100 million users over seven countries in Europe have contributed to 3 billion searches every month. The growth seems to have accelerated more over the past few quarters.
Advertisers get good news as well
Microsoft previously stated that Bing households usually showed higher incomes and 24% of the Bing audience was sitting in their country’s top-earning niches. It also seems that more Bing users clicked on ads from other search engines, good news for advertisers as well.
Results for the quarter ended September 2017
Microsoft presented the following results for the quarter ended September 2017 in an extensive report:
- Revenue was $24.5 billion and increased 12%
- Operating income was $7.7 billion and increased 15%
- Net income was $6.6 billion and increased 16%
- Diluted earnings per share was $0.84 and increased 17%
This way, analyst expectations were beaten. The executive vice president and chief financial officer at Microsoft, Amy Hood, stated that this strong start to the fiscal year reflects the huge impact of the company’s continued investment in product innovation and sales capacity for capturing more expanding market opportunities.
Microsoft Cloud also continues to grow, powering the first quarter of 2018 results.
You can also take a look for yourself at Microsoft’s full report with all the data and statistics.
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