Microsoft to Add Long-Awaited Features to Outlook on iOS

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Microsoft Corp . MSFT recently announced that it will introduce the option to add and edit contacts from Outlook on Apple's AAPL iOS platform. The feature is highly anticipated and is expected to be widely accepted once released.

Per Microsoft's blog post, contact cards in Outlook mobile are also being redesigned. Apart from storing the relevant contact details and pictures, the new card will also display any recent conversation, attachments exchanged or any upcoming event planned with a specific contact. Though the date of the release has not yet been specified, it is expected to happen soon.

The announcement had a positive impact on shares, which touched $72.89, a new 52-week high on Jun 5, 2017, eventually closing a bit lower at $72.28.

We note that the company has outperformed the S&P 500 on a year-to-date basis. While the index gained 10.4%, the stock returned 16.8% during the same period.

Microsoft's Office 365 Segment Continues to Grow

Office 365, of which Outlook is a part, crossed a major milestone with more than 100 million monthly active users in the past quarter. The revenue contribution increased 35% from the year-ago quarter, mainly attributed to growth in subscription rate.

Per management, rapid adoption of the products aided growth. The company is working on increasing the appeal of Office 365 to a diverse customer base. Driven by the improving features and capabilities of Office 365, the company has won customers like H&R Block HRB , Johnson & Johnson JNJ and Louis Vuitton.

Microsoft Corporation Revenue (TTM)

Microsoft Corporation Revenue (TTM) | Microsoft Corporation Quote

Robust Azure: A Key Catalyst

Apart from strong adoption of Office 365, Microsoft is benefiting from robust penetration of its cloud based service Azure. We note that Azure revenues soared 94% at constant currency year over year in the last quarter.

Microsoft noted that Azure premium revenues grew triple digits for the 11th consecutive quarter, with more than 80% of Azure customers using the premium services.

Currently, Microsoft carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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