Microsoft beat Wall Street’s estimates for third-quarter revenue on Tuesday, driven by growth in its cloud computing and Office productivity software businesses.
Shares of the Redmond, Washington-based company gained 4 per cent in aftermarket trading. The company has 3,500 employees in Ireland.
The company’s revenue rose 7 per cent to $52.9 billion (€48.2 billion) in the quarter ended March, inching past the average analyst estimate of $51.02 billion, according to Refinitiv.
Microsoft said growth at its cloud business Azure was 27 per cent in the latest reported quarter. Analysts were expecting growth of 26.6 per cent according to the consensus from 23 analysts polled by Visible Alpha. – Reuters
