Microsoft beats quarterly revenue estimates on cloud boost

  • 7/27/2021
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July 27 (Reuters) - Microsoft Corp (MSFT.O) beat Wall Street expectations for quarterly revenue on Tuesday, as demand soared for the software giant"s cloud-based services with more people working and learning remotely. The pandemic-driven shift to remote work has boosted consumer appetite for cloud-based computing, helping companies including Microsoft, Amazon.com Inc"s (AMZN.O) cloud unit and Alphabet Inc"s (GOOGL.O) Google Cloud. Microsoft said revenue in its "Intelligent Cloud" segment rose 30% to $17.4 billion, with a 51% growth in its Azure cloud-computing business. Analysts had expected a 43.1% growth in Azure, according to consensus data from Visible Alpha. Revenue from its personal computing division, which includes Windows software and Xbox gaming consoles, rose 9% to $14.1 billion. The company"s revenue rose 21% to $46.2 billion in the fourth quarter ended June 30, beating analysts" consensus estimate of $44.24 billion, according to IBES data from Refinitiv.

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