Jul 21, 2017
Microsoft profits jump on cloud strength
Microsoft quarterly profits nearly doubled to $5.3bn, after growth from its cloud computing business. The firm said the figures show its focus on cloud computing - software, storage and other services connected over the internet - is working. eBay's stock dropped almost 4% in after-hours trade after its profit forecast largely fell below estimates. Microsoft has been reinventing its business to become less reliant on computer sales and older software products. Chief executive Satya Nadella has focused on the cloud business and selling to the growing number of companies looking to conduct more work online.
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