Microsoft Corp.’s cloud-based software helped drive robust sales and profit growth, which topped analysts’ estimates for an 11th straight quarter.
Revenue in the first quarter, ended Sept. 30, climbed 22% to $45.3 billion, the Redmond, Washington-based software maker said Tuesday in a statement. That exceeded the $43.9 billion average estimate of analysts polled by Bloomberg. Profit excluding a tax gain rose to $2.27 a share, compared with predictions for $2.07. Sales forecasts by division for the current period also topped projections.