Microsoft Reports Cloud Growth After Record Quarterly Profit

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Microsoft posted one of its most profitable quarterly results on Tuesday, despite falling PC sales due to the global chip shortage.

This is because of the huge growth in the company’s cloud services.

In the second quarter of 2021, Microsoft’s Azure computing business climbed 51% and total revenue rose 21% to $46.2 billion, beating analysts’ consensus by nearly $2 billion.

Remote working has increased the need for cloud-based computing, which makes companies like Microsoft very useful.

Microsoft projected strong growth for the professional social network LinkedIn. Usage of LinkedIn increased during the quarter as there was an increase in jobs in many sectors.

The company reported a profit of $2.17 per share, above the consensus forecast of $1.92.

For more information, read the original story in Reuters.

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