SAN FRANCISCO: Microsoft on Tuesday (Wednesday in Manila) reported strong quarterly earnings, driven by demand for cloud computing.
The tech titan posted a profit of $16.7 billion on sales of $49.4 billion for the first three months of 2022, up 8 percent and 18 percent respectively from a year earlier.
“In the future, digital technology will be the key factor driving the world’s economic performance,” said Satya Nadella, Microsoft chief executive officer.
“Across the tech stack, we are expanding our capabilities and committed to helping customers differentiate themselves, build resilience and do more with less,” he added.
Microsoft shares rose more than 4 percent to $282.44 after earnings numbers that came with an upbeat outlook for the current fiscal quarter.
Revenue at the company’s “intelligent cloud” unit, which connects data center-hosted software with artificial intelligence, rose in the same one-year period…