Microsoft Earnings Jump as Cloud Services Thrive

Microsoft Corp. continued to benefit from the global shift toward remote work as its cloud business boosted its revenue last quarter.

On Tuesday it reported revenue of $45.3 billion for the three months through Sept. 30, up 22% from the year-earlier period. Net income rose 48% to $20.5 billion. The results exceeded analyst expectations of $44 billion in sales and $15.7 billion in profit, according to analysts surveyed by FactSet.

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