Microsoft sales and profit beat estimates on cloud growth
Updated : October 25, 2018 07:29 AM IST
Microsoft shares have tripled since Satya Nadella became chief executive in 2014 and refocused the company on building data centre software and services. The stock, which has risen more than 21 percent over the past 12 months, gained 1.9 percent in after-hours trading following the earnings report.
Much of Microsoft's recent growth has been fuelled by companies moving to the cloud from on-premise data centres, helping it to beat analysts' profit targets for more than two years.
Amazon.com Inc leads in cloud infrastructure services with a second-quarter market share of over 30 percent, according to market research firm Canalys, but Microsoft's share rose to 18 percent from 16 percent in the previous quarter.