Microsoft Corp on Thursday beat analysts’ estimates for fourth-quarter revenue and profit, driven by continued sales increases from its cloud business and sending its shares to all-time highs.
Revenue growth in Azure was 64% in the fiscal fourth quarter ended June 30, compared with 89% a year earlier and 73% in the prior quarter. Microsoft does not provide an absolute revenue figure for Azure, blending it into its “intelligent cloud unit,” which had revenue of $11.4 billion compared with analyst expectations of $11.0 billion, according to Refinitiv data.
Microsoft also forecasted between $10.3 billion and $10.5 billion in intelligent cloud sales for the fiscal first quarter, with a midpoint above analyst estimates of $10.13 billion. The forecast helped send shares of Microsoft up more than 2.6% to record highs above $140 in after-hours trading.
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