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Microsoft's cloud computing expands, stocks soar up by 50% in 12 months

Microsoft's Azure saw a 98% growth. Revenue from its productivity and business unit was up to $8.95 billion

Reuters  |  Bengaluru 

Microsoft Corp beat Wall Street's profit forecast on Wednesday, helped by growth in its cloud computing business, but took a $13.8 billion one-time charge due to the new U.S. tax law. The stock of the world's largest software company, which have risen almost 50 percent over the past 12 months, initially fell in after-hours trading but later moved into positive territory. The quarter was the 10th in a row of more than 90 percent revenue growth for its flagship Azure cloud computing service, which directly competes with Inc's Amazon Web Services. Amazon ...

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First Published: Thu, February 01 2018. 10:03 IST