Microsoft beats estimates as Azure revenue grows 48%
In short
Microsoft shares rose more than 5% on Wednesday afternoon after the company reported better-than-expected revenue and profit. Its Azure cloud division grew 48% in the September quarter.
This matters because Azure remains a major growth engine for Microsoft. The report also says Google’s cloud revenue reached $30.7 billion, close to Azure’s $33.2 billion, but the exact earnings figures were not given.
What the reporting says
Microsoft shares rose more than five percent Wednesday afternoon after the company reported better-than-expected revenue and profit, driven by Azure cloud growth of 48% in the September quarter. The same reporting says Google’s cloud revenue doubled to $30.7 billion, narrowing the gap with Microsoft Azure revenue of $33.2 billion. The source does not provide the full earnings figures or the exact estimates beat.
Why it matters
Microsoft reported better-than-expected revenue and profit, and its shares rose more than five percent Wednesday afternoon. The growth was linked to Azure, which increased 48% in the September quarter. The report also said Google’s cloud revenue doubled to $30.7 billion, compared with Microsoft Azure revenue of $33.2 billion, highlighting competition in cloud computing.