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Microsoft s Cloud Services Resulted In Record Quarterly Profit

Microsoft s Cloud Services Resulted In Record Quarterly Profit
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Microsoft sees steady cloud growth after record quarterly profit - Netscape Money & Business

Microsoft sees steady cloud growth after record quarterly profit By Akanksha Rana and Julia Love Reuters (Reuters) -Microsoft Corp posted its most profitable quarter on Tuesday, beating Wall Street expectations for revenue and earnings, as PC sales declines stemming from a global chip shortage were more than made up for by a boom in cloud services. Shares ticked up 0.7% after Microsoft projected that growth in its Azure cloud computing business will continue apace following a quarter in which sales climbed 51%. Overall revenue rose 21% to $46.2 billion, beating analysts consensus by about $2 billion, according to IBES data from Refinitiv. 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.

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Microsoft results top Wall Street estimates

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.

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Microsoft beats quarterly revenue estimates on cloud boost - Netscape Money & Business

Microsoft beats quarterly revenue estimates on cloud boost - Netscape Money & Business
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Microsoft results top Wall Street estimates on cloud boost

Microsoft results top Wall Street estimates on cloud boost
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