Microsoft sales and profit exceed estimates on cloud revenue jump
Shares in the company rose 4.7% as it reported a structural shift to the cloud
Microsoft reported quarterly sales and profit that topped analysts’ estimates, rekindling optimism about chief executive Satya Nadella’s cloud strategy as more customers shifted to the company’s internet-based software and services. Shares jumped as much as 4.7 per cent.
Including some adjustments, fiscal fourth-quarter revenue was $22.6 billion, compared with the average analyst estimate for $22.1 billion, according to data compiled by Bloomberg. Revenue from Azure, the company’s corporate cloud platform, doubled in the ...