On Tuesday, Microsoft Corp posted its most profitable quarter exceeding Wall Street expectations in terms of revenue and earnings even though PC sales are on decline stemming from global chip shortage were more than made up for by a boom in cloud services.
Microsoft shares went up by 0.7% after it projected that growth in its Azure cloud computing business will continue at the same space following the quarter in which sales increased by 51%. The overall revenue of the firm also increase to $46.2 billion exceeding the experts’ expectation of $2 billion.
Revenue in Microsoft’s ‘Intelligent Cloud’ segment increase up to 30%, with Azure revenues easily being over the 43.1% jump projected by analysts. Its market capitalisation stands at nearly $2.2 trillion by climbing nearly 30% so far this year.
