Microsoft Stock Pops as Cloud and AI Strength Drives Earnings Growth

Microsoft (MSFT) reported fiscal third-quarter revenue and profits that surpassed analysts’ expectations, sending shares higher in extended trading Wednesday.

The tech titan’s revenue grew 13% year-over-year to $70.07 billion, above the analyst consensus from Visible Alpha. Net income of $25.82 billion, or $3.46 per share, rose from $21.94 billion, or $2.94 per share, a year earlier, topping Wall Street’s estimates.

Microsoft shares rose over 7% in after-hours trading. The stock…