Growth in Microsoft’s cloud computing business helped push the company's profit up 24% in the July-September quarter.
The Associated Press
The Redmond, Washington-based tech company on Tuesday reported quarterly profit of $17.2 billion, or $2.27 per share, beating Wall Street expectations of $2.08 per share. Microsoft posted revenue of $45.3 billion in its fiscal first quarter, up 22% from last year. Analysts had been looking for revenue of $44 billion, according to FactSet Research. Microsoft's stock rose almost 2% in after-hours trading.
Microsoft has been unveiling the next generation of its Windows software, called Windows 11, its first major update in six years. But the PC market has also been hit by supply chain problems.
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