On Tuesday, Microsoft reported its quarter one financial results that beat experts’ forecast majorly due to its cloud business operations. The US-based tech giant posted revenue of $37.20 billion and EPS (earnings per share) of $1.82 as compared to the predicted $1.54 EPS on revenue of $35.76 billion.
The firm rose around 1% in the after-market session after the reports. The venture announced a rise in revenue through business processes and productivity, adding 11% to $12.3B. Microsoft’s cloud business arm, Azure, surged at a growth rate of 48% in the current quarter as compared to 47% in Q2.
The American tech firm’s shares are trading at $212.66, 35% above from the starting of 2020, down from it 52 weeks high. The company is performing better than the NASDAQ 100, which is 32.82% this year.