Mubasher: Microsoft reported that its net income increased 10% year-on-year to $8.9 billion in its fourth quarter ended June 2018 from $8.1 billion.

The income rise came as a growing number of businesses signed up for Microsoft’s Azure cloud services and Office 365 productivity suite.

“Server products and cloud services revenue increased 26% (up 24% in constant currency) driven by Azure revenue growth of 89%,” the Washington-based company stated on Thursday.

Revenues rose 17% to $30.1 billion in the period between April and June, compared with the same period last year, as the software company saw growth across all of its segments.

The tech giant’s diluted earnings per share (EPS) increased 11% to $1.14 in its fourth quarter from $1.03 in the comparative quarter last year.

“Our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation.” Microsoft’s CEO Satya Nadella said.

“We expect another quarter of sequential growth in capital expenditures as we continue to support growing, global customer demand,” the company’s CFO Amy Hood said on the earnings conference call.

For Microsoft’s first quarter, revenues are set to reach between $9.25 and $9.45 billion in its productivity and business processes, on the back of the growth of Office Commercial and Dynamics, while revenues would range from $8.15 billion to $8.35 billion in the intelligent cloud business, Hood added.