Microsoft Corporation (MSFT, Financial)
Microsoft continued to benefit from tailwinds related to the pandemic and overall digitization in all industries. Azure cloud remains one of the most consistent sources of growth for the company. Recurring revenue is becoming a more important part of the business led by the success of their Office 365 subscription service which is growing at a faster rate than legacy Office products. Microsoft’s Xbox gaming segment has achieved record levels of revenue thanks to the release and continued popularity of their new gaming consoles. The company’s gaming subscription service has over 18 million subscribers. Management’s guidance for fiscal year 2022 calls for double-digit revenue and operating income growth. Microsoft’s board recently approved a new $60 billion share repurchase program. The company also raised its quarterly dividend from 56 cents a share to 62 cents a share.
From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management fall 2021 market commentary.
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