Microsoft gets to play both sides of the fence, because it also receives licensing fees for versions of Windows and SQL Server running in its rivals' clouds. But the Redmond company is increasingly relying on its own cloud revenue. Microsoft's commercial cloud run rate -- a projection of the annual revenue from products including Office 365 and Azure -- topped $14 billion in the company’s latest quarterly results, a new record.
They're swiping at the cloud revenue, not the Windows/SQL product licensing revenue.
Uncertain fortune is thoroughly mastered by the equity of the calculation. - Blaise Pascal