Microsoft Quarterly Profit Soars as Cloud Growth Accelerates

Microsoft’s MSFT -0.06%decrease; down pointing triangle cloud business continued to post accelerating growth in the company’s most recent quarter, contributing to a higher profit and easing jitters over potential returns from the artificial-intelligence infrastructure build-out.

The 48% growth in the Azure cloud business propelled Microsoft’s revenue to $92.28 billion, up 19%, for its fiscal first quarter. The result handily beat Wall Street’s expectations for $90.62 billion in revenue, according to analysts polled by FactSet.

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