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Tuesday, October 24, 2023 4:22:47 PM
By: Investing | October 24, 2023
Microsoft reported Tuesday fiscal first-quarter results that beat Wall Street estimates, driven by stronger growth in its cloud business azure.
Microsoft Corporation (NASDAQ:MSFT) rose more than 4% in after-hours trade following the report.
The company announced earnings per share of $2.99 on revenue of $56.52B. Analysts polled by Investing.com anticipated EPS of $2.65 on revenue of $54.53B.
Revenue in productivity and business processes was up 13% to $18.6B and its intelligent cloud business, which includes cloud business Azure, grew 19% to $24.3B.
The company said Azure grew 29% in the quarter, compared with Wall Street estimates for 26%.
Revenue in personal computing was up 3% to $13.7 billion.
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