Microsoft beat Wall Street expectations for quarterly revenue and profit on Tuesday, as demand soared for the software giant s cloud-based services.
However, its shares dipped 2.1 percent in after-hours trading, following the company s year-to-date run of 30 percent that left investors with high expectations for the quarter.
The pandemic-driven shift to remote work has boosted consumer appetite for cloud-based computing, helping companies including Microsoft, Amazon.com Inc s cloud unit and Alphabet Inc s Google Cloud.
Revenue in its Intelligent Cloud segment rose 30 percent to US$17.4 billion, with 51 percent growth in its Azure cloud-computing business, in the fourth quarter ended June 30. Analysts had expected 43.1 percent growth in Azure, according to consensus data from Visible Alpha.
Microsoft beats quarterly revenue estimates on cloud boost - Netscape Money & Business
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Microsoft results top Wall Street estimates on cloud boost
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Microsoft results top Wall Street estimates on cloud boost
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FILE PHOTO: Guatemala s President Alejandro Giammattei looks on during a news conference with Michael Kozak (not pictured), acting assistant secretary for U.S. State Department s Bureau of Western Hemisphere Affairs, in Guatemala City, Guatemala February 7, 2020. REUTERS/Luis Echeverria
GUATEMALA CITY (Reuters) - Guatemala began reopening its economy on Monday, easing restrictions imposed four months ago to curb the coronavirus, although cases are still on the rise in much of the country.
The Central American nation closed its borders and implemented a curfew in March, in addition to suspending public transportation and economic activity in sectors not considered to be essential.