Microsoft’s Sales Top Estimates on Booming Cloud Demand
- Azure revenue climbs 48% as companies accelerate online push
- Software maker clocks 13th straight double-digit gain in sales
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Microsoft Corp.’s first-quarter revenue climbed a better-than-projected 12%, strengthened by corporate demand for cloud-computing services to support customers’ remote workers and move more of their business online.
Sales in the period that ended Sept. 30 rose to $37.2 billion, the software maker said Tuesday in a statement. That exceeded the $35.8 billion average estimate of analysts polled by Bloomberg, and marked Microsoft’s 13th straight quarter of double-digit revenue growth. Net income was $13.9 billion, or $1.82 a share. Analysts had predicted $1.54 a share.