Microsoft surpasses profit expectations



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<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Microsoft (MSFT) announced better than expected third quarter financial results. "Data-reactid =" 22 "> Microsoft (MSFT) released third-quarter financial results better than expected.

During the quarter, the technology giant announced a turnover of $ 30.60 billion, higher than consensus estimates of $ 29.86 billion.

Microsoft earned $ 1.14 per share, exceeding analysts' expectations of a profit of $ 1.00 per share.

Business in Microsoft's cloud computing was the focus of concern, with analysts expecting strong growth in this segment. The cloud business generated revenue of $ 9.65 billion, an increase of 41% over the previous year. Analysts predicted a $ 9.30 billion business figure in the cloud.

"Leading companies of all sizes and industries trust the Microsoft cloud. We are accelerating our innovation in the cloud and on the periphery so that our customers can build the digital capacity necessary for competitiveness and growth, "said CEO Satya Nadella in a statement.

Microsoft shares rose nearly 2 percent after office hours and suffered a rift in 2019. The stock rose 33 percent from its December low and closed at a record high on Tuesday.

The results conference call begins at 5:30 pm ET.

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