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Microsoft Soars After Cloud Forecast Eases Wall Street’s Worries

  • Second-quarter revenue, profit get boost from Office, Windows
  • Azure growth has been slowing, sparking investor concern
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Microsoft Sees Slower Growth for Its Cloud Business
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Microsoft Corp. shares rose the most since April 2020 on Wednesday after the software giant gave a forecast that reassured investors the company’s Azure cloud-computing business still has potential to drive growth. 

The company predicted Azure’s revenue growth rate would pick up in the fiscal third quarter from the second, excluding the impact of currency fluctuations. The stock gained as much as 6.9% in New York. “This will help calm Street tech growth worries,” said Dan Ives, an analyst at Wedbush.