Microsoft: "It's Just The Beginning"

A look at the company's results for Q3 FY21

On Tuesday, Microsoft reported results for the third quarter of fiscal 2021.

In the quarter, Commercial Cloud (CC) revenues - primarily attributable to Azure, Office 365 Commercial, and Dynamics 365 - increased 33% YoY to $17.7 billion.

As shown below, run rate CC revenues are ~$71 billion, up ~60% in the past 18 months (For context, Microsoft’s total re…