Microsoft’s profit beats estimates on strong cloud performance

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…

Read More