Microsoft search engine Bing has finally shown a profit for the fiscal year of 2016. According to a report released by Microsoft, the search engine contributed a revenue of more than $1 billion to Microsoft.

Investors welcomed the news amidst questions going through their mind on why Microsoft still invest in the search engine.

According to CNN Money, the search engine has not been giving any profit over the last four years as  it was unable to tap into the smartphone industry.

According to Microsoft, the revenue comes mostly from the company's partnership with Yahoo earlier this year.

The search result in Yahoo is powered mostly by Bing while the rest comes from its own searches and Google. Besides that, its partnership with Apple also helped to boost the search engine as Bing is being used as the search engine for Siri.

According to Cnet News, Microsoft is also planning to increase its revenue from ads by handing off its advertising business to AOL.

The company is dedicated with the search engine,  giving Microsoft to focus more on its core product. Aside from that, Microsoft will also sell its map-data-collection business to Uber.

Microsoft will no longer focus in that area as Google and Apple have been dominating that area.

According to a report by International Business Times, Google accounted for 92.22 percent of global media search with Apple coming in next. Bing is in third place with only 1.76 percent of market share.

However, Microsoft is hoping that the company will be able to tap into the smartphone market as well. This comes with the company's introduction of Windows 10, Internet Edge, and Microsoft virtual voice assistant, Cortina which is integrated with the Bing search engine for the Windows phone.

However, with only 3 percent of smartphone users using the windows phone Microsoft will need to find another plan.

Bing is currently the second search engine used for desktop users with 20.7 percent market shares while Google dominates with 63.9 percent market shares.

Although Bing recorded a great revenue for Microsoft, the company is still falling in its total revenue as it only posted a revenue of $20.4 billion, down 12 percent compared to same quarter in 2014.