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Microsoft blows past earnings estimates on continuing strong cloud growth


Microsoft blows past earnings estimates on continuing strong cloud growth
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Microsoft Corp. continued its recent record of smashing earnings expectations with fiscal fourth-quarter results that handily beat analyst estimates on growth in its cloud business that has accelerated since last quarter.
The company reported sales of $46.2 billion today, up 21% from the same period last year. Profit surged 47%, to $2.17 a share, well ahead of analysts’ estimates of $1.90.
After initially declining about 2% when results were announced, Microsoft shares rallied and were up about 1.5% after-hours. The stock is up nearly 30% for the year, compared with about a 20% gain in the S&P 500. ....

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