Microsoft reported strong quarterly earnings this week, fueled by demand for cloud computing. The tech titan said it posted profit of $16.7 billion on sales of $49.4 billion for the first three months of this year, up 8% and 18% respectively from the same period last year.

“In the future, digital technology will be the key factor driving the world’s economic output,” said Microsoft CEO Satya Nadella. “We’re right across the tech stack expanding our possibilities and share as we help clients differentiate themselves, build resilience and do more with less.”

Microsoft shares rose more than 4% to $282.44 on earnings numbers that came with an upbeat outlook for the current fiscal quarter. revenue one the company’s “intelligent cloud”. that intertwines hosted in the data center software with artificial intelligence rose from the same period a year earlier, Microsoft reported.

“Continued customer engagement with our cloud platform and…



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