Microsoft's revenue grows by 18%

The revenue of Microsoft in the 2020-2021 fiscal year grew by 18 percent, reaching $168.1 billion, Report informs that the relevant data is provided on the company's website.

Over the past fiscal year, which ended June 30, Microsoft's net profit also increased by 38 percent to $61.3 billion. Operating profit for the period increased by 32 percent to $69.9 billion.

Satya Nadella, the corporation's CEO, said that Microsoft's results show that when a company properly meets customers' needs in various markets, it achieves profitable growth.

Much of Microsoft's financial success is due to the strong demand for its cloud services, as well as innovations in video games and security, he said.

Founded in 1975 by entrepreneurs Bill Gates and Paul Allen, Microsoft is one of the largest corporations producing software for various devices, from personal computers to mobile phones.