Microsoft Corp.’s shares jumped on strong quarterly results that beat analyst expectations, driven by robust growth in cloud services. The company’s total revenue for the fiscal third quarter increased 13% to $70.1 billion, with adjusted profit reaching $3.46 per share. Analysts had estimated sales of $68.5 billion and adjusted earnings of $3.21 per share.
The strong performance suggests that customer demand for Microsoft’s cloud services has remained steady despite economic turbulence and a wave of tariffs. The results set a positive tone for the tech sector, with Microsoft’s cloud growth helping to offset broader economic concerns.
Microsoft’s quarterly results were seen as a ‘blowout’ by Synovus’ Morgan, highlighting the company’s resilience in challenging economic conditions. The strong cloud growth indicates that businesses continue to invest in digital infrastructure, even as they face economic headwinds.
