Microsoft reported positive results to conclude its fiscal year 2017 on Thursday. The company beat expectations, both above and below the line, posting an adjusted profit of $7.7 billion on $24.7 billion in revenue. Windows 10 continues to do well, and so does Office 365.
Grabbing the most headlines though, Microsoft is still on track to reach the ambitious target it set back in April 2015 for its cloud business. CEO Satya Nadella said then that his company’s goal is to reach a $20 billion revenue run rate for its commercial cloud services (Office 365 commercial, Azure, Dynamics Online, and other cloud properties) sometime during fiscal year 2018 (July 2017 to June 2018). Having reached $18.9 billion in the past quarter, it looks like Microsoft will be able to deliver on that promise. In fact, if the company is able to sustain the momentum its built over the past two years, it will do this with time to spare.