Microsoft reports 17% revenue growth as cloud business accelerates
Summary
Microsoft stock rose as much as 6% in extended trading on Tuesday after the company reported fiscal second-quarter earnings and Azure cloud revenue growth that exceeded analysts expectations. Microsoft revenue grew 17% on an annualized basis, up from 12% growth in the prior quarter, according to a statement. Revenue from Microsofts Intelligent Cloud business segment, which includes the Azure public cloud, server products such as Windows Server, GitHub and enterprise services, totaled $14.60 billion. Technology industry research company Gartner estimated that PC shipments, excluding Chromebooks, grew 10.7% in the quarter. The segments operating margin narrowed to 34.6% from 40% following the introduction of two Xbox video-game consoles in November.
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