Microsoft’s profit beats estimates on strong cloud performance

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By Yuvraj Malik and Jane Lanhee Lee (Reuters) – Microsoft Corp reported a better-than-expected quarterly profit on Tuesday as strong performance at its cloud services business helped offset a slump in the personal computer market, sending its shares 4% higher in extended trading. The upbeat results from Microsoft, whose business spans cloud services, software, gaming and computer hardware, will likely allay fears of a meltdown in the tech industry which has laid off tens of thousands of employees this year in anticipation of an economic downturn. Microsoft said Azure cloud product revenue rose…

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