" Microsoft - better than expected 😍"

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Microsoft Corp reported better-than-expected quarterly profit on Thursday as demand for its cloud computing services for companies rose and its personal computer software business stabilized.

Shares of the world’s largest software company rose 3.1 percent to $81.20 in trading after the bell.
Microsoft’s focus on fast-growing cloud applications and platforms is helping it beat slowing demand for personal computers that has hurt sales of Windows – the software that powered the company to the top in the 1990s.

Under Chief Executive Satya Nadella, Microsoft’s cloud business – which includes products such as Office 365, Dynamic 365 and the flagship Azure computing platform – has emerged as a major source of growth. Revenue from Microsoft’s intelligent cloud business rose nearly 14 percent to $6.92 billion in Microsoft’s fiscal first quarter, ended September 30. Analysts on average had expected $6.70 billion, according to financial data and analytics firm FactSet. Revenue from Azure, which competes with Amazon.com Inc’s Amazon Web Service and offerings from Alphabet Inc’s Google, IBM and Oracle Corp, grew 90 percent compared to a 97 percent growth rate in the preceding quarter.

Azure’s strong performance helped lift the gross margin at Microsoft’s cloud business to 57 percent, said Stephanie Rodriguez, director of investor relations for Microsoft. Microsoft said its commercial cloud annualized revenue run rate reached $20.4 billion in the quarter. In 2015, Nadella set a target of $20 billion in cloud revenue by 2018. In a call with analysts after earnings, Nadella said retailer Costco Wholesale Corp recently chose Azure its hybrid cloud platform. Revenue from Microsoft’s personal computing division, its largest by revenue, fell 0.2 percent to $9.38 billion but handily beat analysts’ estimate of $8.81 billion.

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