Microsoft Sales Rise as Remote Working Buoys Cloud Services
- Revenue gain of 15% tops analysts’ estimates; shares rise
- PC, gaming business gets a boost from homebound consumers
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Microsoft Corp. said quarterly sales and profit rose, buoyed by demand for internet-based software and cloud services needed to accommodate a shift to remote working during the coronavirus crisis.
Profit in the period ended March 31 rose to $10.8 billion, or $1.40 a share, the company said Wednesday in a statement. Sales rose 15% to $35 billion. The results from the world’s largest software maker topped analysts’ average estimates for $1.28 a share in profit and $33.7 billion in sales, according to data compiled by Bloomberg. Shares jumped in late trading.