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Microsoft earnings Q3 2018

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The company’s biggest business segment, More Personal Computing — which includes Windows, devices, gaming and search ads — produced $9.92 billion in revenue, up 13 percent year over year. The segment came in above the FactSet consensus estimate of $9.25 billion, according to StreetAccount.

The Productivity and Business Processes segment, which includes Office, LinkedIn and Dynamics, came up with $9.01 billion in revenue, which was up 16.8 percent and above the FactSet consensus estimate of $8.73 billion, according to StreetAccount.

Microsoft’s Intelligent Cloud segment, containing server products and cloud services, grew 17.3 percent with $7.90 billion in revenue. The results exceeded the $7.68 billion FactSet estimate.

In the fiscal third quarter Microsoft acquired data storage company Avere and gaming start-up PlayFab, and it announced a major reorganization that included the departure of Windows and Devices chief Terry Myerson from the company. The Windows and Devices Group was effectively split up and put inside the Experiences and Devices group (which includes Microsoft’s Office 365 and other productivity applications) and the Cloud and Artificial Intelligence Platform group (which includes infrastructure products like Windows Server and the Azure cloud platform).

“We think folding Windows into the new Experiences and Devices division, which is led by a former Office executive, sends a strong signal of the supporting, and not leading, role Windows will likely take in coming years, and we like the continued emphasis on hybrid cloud and [artificial intelligence],” Stifel analysts led by Brad Reback wrote in a Sunday note.

But Windows remains the main revenue contributor for Microsoft’s More Personal Computing business segment. One indicator for Windows sales, IDC’s PC shipments, was flat year over year in the first quarter of 2018 but better than expected, the Stifel analysts wrote.

Intelligent Cloud contains the Azure public cloud, which competes with Amazon Web Services and represents Microsoft’s biggest growth driver overall. Microsoft as usual didn’t provide an exact revenue figure for Azure but did say revenue rose 93 percent year over year, which is down sequentially from 90 percent revenue growth. The Stifel analysts said they were expecting growth just over 90 percent, while analysts led by Kirk Materne at Evercore ISI said in a Sunday note they were looking for 82 percent Azure growth.

Microsoft said its “commercial cloud,” which entails Azure, Office 365, Dynamics 365 and other cloud services, had $6 billion in revenue in the fiscal third quarter, up 58 percent year over year and up 13 percent sequentially.

There were 30.6 million Office 365 consumer subscribers in the quarter, up sequentially from 29.2 million. On the Office 365 commercial side, revenue grew 42 percent.

Microsoft stock is up 10 percent since the beginning of 2018.

This is breaking news. Please check back for updates.

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Facebook is referring Trump ban to its Oversight Board

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President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C., U.S., on Wednesday, Jan. 20, 2021.

Al Drago | Bloomberg | Getty Images

Facebook on Thursday announced that it will refer its decision to indefinitely suspend the account of former President Donald Trump to its newly instituted Oversight Board.

The independent body, which has been described as Facebook’s “Supreme Court,” will review the decision to suspend Trump and make a binding decision on whether the account will be reinstated. Until a decision is made, Trump’s account will remain suspended, the company said in a blog post.

The board will begin accepting public comments on the case next week, it said in a tweet. It will have up to 90 days to make its decision, but its members have committed to move as quickly as possible, a spokesman for the body told CNBC. A decision can’t be overruled by CEO Mark Zuckerberg or other executives.

After Trump’s comments on social media led to an insurrection at the U.S. Capitol on Jan. 6 that resulted in the death of five people, Facebook said it hopes that the board will uphold its Jan. 7 decision to indefinitely suspend Trump.

“We believe our decision was necessary and right,” Facebook said in a blog post. “Given its significance, we think it is important for the board to review it and reach an independent judgment on whether it should be upheld.”

The company’s Oversight Board was launched in October with the premise of reviewing difficult content moderation decisions. The Facebook Oversight Board is made up of scholars, journalists and former lawmakers from around the world. This will be the board’s first major case.

Nominations are open for the 2021 CNBC Disruptor 50, a list of private start-ups using breakthrough technology to become the next generation of great public companies. Submit by Friday, Feb. 12, at 3 p.m. EST.



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England’s third lockdown sees ‘no evidence of decline’ in cases

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Medics take a patient from an ambulance into the Royal London hospital in London on January 19, 2021.

TOLGA AKMEN | AFP | Getty Images

LONDON — A third national lockdown in England appears to have had little impact on the rising rate of coronavirus infections, according to the findings of a major study, with “no evidence of decline” in the prevalence of the virus during the first 10 days of tougher restrictions.

The closely watched REACT-1 study, led by Imperial College London, warned that health services would remain under “extreme pressure” and the cumulative number of deaths would increase rapidly unless the prevalence of the virus in the community was reduced substantially.

The findings of the preprint report, published Thursday by Imperial College London and Ipsos MORI, come shortly after the U.K. recorded another all-time high of coronavirus deaths.

Government figures released on Wednesday showed an additional 1,820 people had died within 28 days of a positive Covid test. To date, the U.K. has recorded 3.5 million coronavirus cases, with 93,290 deaths.

UK Prime Minister Boris Johnson speaks during a media briefing on coronavirus (COVID-19) at Downing Street on January 15, 2021 in London, England.

Dominic Lipinski | Getty Images

Prime Minister Boris Johnson said the latest figures were “appalling” and warned, “There are still tough weeks to come.”

Johnson imposed lockdown measures in England on Jan. 5, instructing people to “stay at home” as most schools, bars and restaurants were ordered to close. It is expected the strict public health measures will remain in place until at least mid-February.

What were the main findings?

The REACT-1 study tests nose and throat swabs from between 120,000 and 180,000 people in the community in England at approximately monthly intervals. The latest results mostly covered a period from Jan. 6 to Jan. 15.

The study compared the results with swabs collected between Nov. 13 and Nov. 24 and those taken between Nov. 25 and Dec. 3.

Researchers found 1,962 positives from 142,909 swabs taken over the January period. It means 1.58% of people tested had Covid on a weighted average.

This represents a more than 50% increase in prevalence rates since the study’s mid-December results and is the highest recorded by REACT-1 since it started in May 2020.

Prevalence from Jan. 6 to Jan. 15 was highest in London, the study said, with 1 in 36 people infected, more than double the rate of the previous REACT-1 results.

A man wearing a mask as a preventive measure against the spread of Covid-19 walks in London.

May James | SOPA Images | LightRocket via Getty Images

Infections had also more than doubled in the southeast of England, east of England and West Midlands when compared with the findings published in early December.

“Our data are showing worrying suggestions of a recent uptick in infections which we will continue to monitor closely,” professor Paul Elliott, director of the program at Imperial, said in a statement.

“We all have a part to play in preventing this situation from worsening and must do our best to stay at home wherever possible,” he added.

The U.K.’s Department of Health and Social Care said the full impact of lockdown measures would not yet be reflected in the prevalence figures reported in the REACT-1 study.

“These findings show why we must not let down our guard over the weeks to come,” Health Secretary Matt Hancock said.

“It is absolutely paramount that everyone plays their part to bring down infections. This means staying at home and only going out where absolutely necessary, reducing contact with others and maintaining social distancing,” Hancock said.

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Here are the 10 executive orders Biden’s signing to combat the Covid pandemic

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