Microsoft released its financial reports for its first fiscal quarter of 2015, and the results exceeded analysts' expectations. The company said strong performances by its cloud computing groups contributed significantly to the results. Its commercial cloud revenue was up 128 percent year-over-year, which CEO Satya Nadella said was the "fifth consecutive quarter of triple-digit growth" for the company's cloud offerings. He added that more than 60 percent of Microsoft Azure users are subscribing to the cloud computing service's premium offerings.
Overall, Microsoft reported $23.2 billion in revenue and net income of $4.54 billion or $.054 per share for the quarter. Wall Street had expected $22.02 billion in revenue and income of $0.49 per share.