(Reuters) – Microsoft Corp (MSFT.O) on Wednesday beat Wall Street sales and profit expectations, powered by sharp demand for its Teams chat and online meeting app and Xbox gaming services as the world shifted to working and playing from home because of the novel coronavirus pandemic.
FILE PHOTO: A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson
The company’s shares, up over 12% this year, rose about 5% in extended trading.
The results reflect Chief Executive Satya Nadella’s focus over his six-year tenure on cloud computing, in which companies tap Microsoft’s data centers for computing power – a growing business dominated by Amazon.com Inc’s (AMZN.O) Amazon Web Services.
For the fiscal fourth quarter, Microsoft gave business-unit forecasts that were below analyst estimates, predicting tough times for LinkedIn and some small-business software sales.
“Ultimately, Microsoft is not immune from what is going on broadly in the world…
Source Reuters Tech News
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