Published: July 21st, 2016

Platform giant Microsoft this week announced its results from fiscal year 2016, earning $5.5 billion in profits and $22.6 billion in revenue, with both Windows 10 and Office 365 performing well.

Many eyes were on its cloud business, however, which chief executive Satya Nadella said should reach $20 billion in revenue during its 2018 fiscal year, which runs July 2017 to 2018. According to results from this quarter and projections based on momentum, Microsoft will likely hit that target.

Market research firm Statista estimates that at its current growth rate, Microsoft may reach $20 billion in revenue run rate even before the end of Q4 2017 for its Office 365, Azure, Dynamics Online and other properties.

Infographic: Microsoft on Track to Hit $20 Billion Cloud Revenue Target | Statista