Microsoft Beats Quarterly Revenue Estimates On Cloud Boost

Microsoft Corp beat Wall Street expectations for quarterly revenue on Tuesday, as demand soared for the software giant’s cloud-based services with more people working and learning remotely.

The pandemic-driven shift to remote work has boosted consumer appetite for cloud-based computing, helping companies including Microsoft, Amazon.com Inc’s cloud unit and Alphabet Inc’s Google Cloud.

Microsoft said revenue in its “Intelligent Cloud” segment rose 30% to $17.4 billion, with a 51% growth in its Azure cloud-computing business. Analysts had expected a 43.1% growth in Azure, according to consensus data from Visible Alpha.

Revenue from its personal computing division, which includes Windows software and Xbox gaming consoles, rose 9% to $14.1 billion.

The company’s revenue rose 21% to $46.2 billion in the fourth quarter ended June 30, beating analysts’ consensus estimate of $44.24 billion, according to IBES data from Refinitiv.

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