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October 21, 2016 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/HlAc2Umv32g/microsoft-shares-hit-all-time-high-as-company-strengthens-its-cloud-grip
Microsoft Shares Hit All-Time High As Company Strengthens Its Cloud Grip
Marco della Cava, reporting for USA Today: Microsoft shares surged 5% in early trading Friday, and passed a high set in 1999, helped by enthusiasm for progress in its cloud business. The stock was at up at $60.11, breezing past the $58.72 mark set in December 1999. Friday's rally follows Microsoft's latest quarterly report, out late Thursday, that beat analyst expectations for adjusted sales and profit and showcased a doubling of growth in its Azure cloud business, while reflecting continued strain from consumers' pivot away from PCs and traditional software purchases.Microsoft reported its Q1 2017 earnings yesterday, noting a revenue of $20.5 billion, which was higher than Wall Street's expectations. Company's Intellgent Cloud revenue was up 8 percent, whereas Azure revenue observed 116 percent growth year-on-year.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/HlAc2Umv32g/microsoft-shares-hit-all-time-high-as-company-strengthens-its-cloud-grip
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