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Microsoft shares soar after beating earnings forecasts thanks to cloud profits


Updated at 4:46 p.m. EST

Microsoft (MSFT) – Get a free report posted better-than-expected second-quarter earnings late Tuesday, with steady growth for its key cloud computing division sending its shares higher after hours of trading.

Microsoft said revenue for Azure, its top cloud division, grew 31% year-over-year, beating Street expectations but slowing from a previous mid-to-high 40% increase due to companies continue to reduce spending on digital infrastructure and the dollar continues to appreciate. mountain climbing in 2022.

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