Market: Microsoft: Results exceed expectations thanks to the
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(Reuters) – Microsoft released quarterly results that beat expectations on Tuesday, benefiting from buoyant demand for its cloud computing business that offset a decline in consumer computer sales.

The IT giant saw its stock rise 4% in post-closing trading on Wall Street.

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It’s a bright spot for a tech sector recently marked by a flurry of mass layoff announcements ahead of an economic trough, as industry giants enjoyed strong business growth over the past the coronavirus health crisis.

In the October-December period, the “Intelligent Cloud” division, which includes the Azure platform, recorded revenue of $21.5 billion, Microsoft said, while the consensus was $21.4 billion. dollars according to Refinitiv data.

Revenue from Azure rose 31% in the fourth quarter, in line with estimates compiled by Visible Alpha, as the platform continued to take market share from Amazon’s Amazon Web Services (AWS).

Microsoft posted quarterly earnings per share of $2.32 on an adjusted basis, beating the consensus of $2.29.

The group reported overall quarterly revenue up 2% year-on-year to $52.7 billion, versus a consensus of $52.94 billion, according to IBES data from Refinitiv.

(Report Yuvraj Malik in Bangalore; Jean Terzian)

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