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Microsoft's Quarterly Profit More Than Doubles

Microsoft Corp reported better-than-expected quarterly profit and revenue on Thursday, helped by strong performance in its fast-growing cloud business.

Shares of the world's largest software company rose as much as 1.5 percent in after-hours trading, after touching a record high of $74.30 during the regular session.

Microsoft said revenue from its cloud unit, which includes the flagship Azure platform and server products, rose about 11 percent to $7.43 billion in the fiscal fourth quarter ended June 30.

Analysts on average had expected revenue of $7.32 billion, according to data and analytics firm FactSet.

Revenue from Azure nearly doubled in the quarter.

 

Read more at Reuters

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