“Microsoft earnings up as cloud business continues its expansion”
January 30, 2020
“Microsoft reported better-than-expected earnings and revenue for the three months ending in December, easily beating analysts’ estimates and sending its stock up 3% in after-hours trading Wednesday…
Sales at Microsoft grew 14% from the prior year to $36.9 billion in the quarter, the company reported Wednesday. Adjusted net income was also up sharply — growing 36% to $11.6 billion. The strong performance in the quarter was helped by the continued growth streak in Microsoft’s cloud business.
Revenue from the intelligent cloud division beat Wall Street analysts’ projections and hit $11.9 billion in the three months, driven by 62% growth in Microsoft’s key Azure cloud business…”