Microsoft Corporation (NASDAQ: MSFT) in the third quarter of FY 17 has reported the adjusted earnings per share of 73 cents, beating the analysts’ estimates for the adjusted earnings per share of 70 cents. On the other hand, the firm had reported the adjusted revenue growth of 6.3 percent t $23.56 billion in the third quarter of FY 17, missing the analysts’ estimates for revenue of $23.62 billion. As a result, the stock lost over 0.5% in the pre-market session on April 28th, 2017 (as of 6:27AM EDT; Source: Google finance).

Microsoft net income grew to $4.80 billion, in the quarter, from $3.76 billion, a year earlier. Microsoft said LinkedIn, which it had bought for about $26 billion, has contributed $975 million in revenue in the quarter, $25 million more than analysts had expected.

Furthermore, theMicrosoft revenue from the company’s personal computing unit, which is its largest by revenue, fell 7.4 percent to $8.84 billion. The analysts on average had expected the revenue of $9.22 billion. The business included Windows software, Xbox gaming consoles, online search advertising and Surface devices. The surface revenue fell 26 percent to $831 million, down from $1.3 billion in the year-ago quarter. The popular high-end computers from other makers, along with the fact that many Surface products have been on the market for many months, has hurt Surface sales. The lower-than-expected revenue in the personal computing division came amid an uptick in the broader PC market. The worldwide PC shipments grew 0.6 percent in the first quarter of 2017, that saw the growth for the first time in five years.

Moreover, Microsoft has for the first time, has reported a revenue growth rate for Dynamics 365, its competitor to Salesforce.com Inc’s online sales software. The revenue grew 82 percent in constant currency, though the firm did not give an absolute dollar total. The revenue from the “Intelligent Cloud” unit, hich includes server products and the company’s flagship cloud computing platform, Azure, has grown about 11 percent to $6.76 billion in the quarter. Azure revenue grew 93 percent in the third quarter. The service competes with Amazon.com Inc’s Amazon Web Services, the market leader in cloud infrastructure, as well as offerings from Alphabet Inc’s Google, IBM and Oracle Corp.

Microsoft stock has risen 31.85% in the last one year (source: Google Finance). According to tipranks.com, 8 analysts has covered the stock while recommending a “Strong Buy”. Microsoft has an average price target of $73, which is a further upside of 6.93%.