Microsoft Sales Top Estimates With More Clients Signing Up for Cloud
- Azure cloud sales rose 89%; Office 365 revenue jumps 38%
- Software maker also got a lift from improving PC market
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Microsoft Corp.’s cloud-fueled turnaround persisted in the fiscal fourth quarter, when sales and profit got a boost from customers signing up for more internet-based storage, processing and Office productivity software.
Profit in the period ended June 30 rose to $8.87 billion, or $1.14 a share, topping the $1.08 average per-share estimate of analysts polled by Bloomberg. Sales climbed 17 percent to $30.1 billion, Microsoft said Thursday in a statement, higher than predictions for $29.2 billion. Annual sales also topped $100 billion for the first time in company history.