Microsoft beats Street - FXGlobal

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Software giant Microsoft (MSFT) reported quarterly earnings far beyond analysts’ expectations as its key cloud segment almost doubled its revenue. Cloud business brought in $6.68 billion during the second fiscal quarter. This was above both analyst expectations and the company’s guidance. Analysts had estimated that the cloud segment would bring in about $6.73 billion. Microsoft’s projected range for the cloud segment was $6.55 to $6.75 billion. Its major cloud product, Azure, grew by 93 % year-on-year. CEO Satya Nadella said in a statement that “Accelerating advancements in AI across our platforms and services will provide further opportunity to drive growth in the Microsoft Cloud”. Total second fiscal quarter revenue reached $26.07 billion and earnings of 83 cents per share. The consensus among Reuters analysts was 79 cents per share and $25.3 billion in revenue. Microsoft shares hit a fresh intraday all-time high of $64.54. Meanwhile, stocks rose by 23 percent in the past 12 months.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 88.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.