By Yasin Ebrahim
Investing.com - Microsoft (NASDAQ:MSFT) reported Tuesday first quarter results that beat analysts' forecasts as its cloud business continued to flourish underpinned by the rapid pace of digital transformation.
Microsoft shares gained 1.20% in after-hours trade following the report.
Microsoft announced earnings per share of $2.27 on revenue of $45.32 billion. Analysts polled by Investing.com anticipated EPS of $2.07 on revenue of $43.93 billion.
Revenue in productivity and business processes was up 22% to $15.0 billion, driven by jump in consumer and commercial products, while LinkedIn revenue increased 42%.
The intelligent cloud business, which includes cloud business Azure, grew 31% to $17.0 billion.
The company said Azure grew 50% in the quarter, compared with estimates for 46%.
Revenue in more personal computing was up 12% to $13.3 billion