Microsoft Shares Surge on Strong Quarterly Cloud Growth
This article is for subscribers only.
Microsoft Corp. shares jumped after the company reported stronger-than-expected quarterly sales and profit growth, suggesting customer demand for cloud services has held steady despite a wave of tariffs and economic turbulence.
Total revenue in the fiscal third quarter increased 13% to $70.1 billion, while adjusted profit was $3.46 a share, the company said in a statement Wednesday. Analysts on average estimated sales of $68.5 billion and adjusted per-share earnings of $3.21.