TECH - Microsoft's Azure Strength Could Rub Off On This Warren Buffett-Backed Stock And Another Big Cloud Player Says Analyst | Benzinga
Software giant Microsoft Corp. (NASDAQ:MSFT) reported Thursday after the market close strong third-quarter results, sending its stock higher.
On Cloud Nine: Microsoft attributed the strong quarterly performance, primarily to its Cloud business. “This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year, driven by strong execution by our sales teams and partners,” CFO Amy Hood said in a statement.
Microsoft’s Azure public cloud and other cloud services saw both GAAP and constant currency revenue growth of 31%.
Speaking on the earnings call, CEO Satya Nadella said, “Azure again took share as customers use our platforms and tools to ...