Microsoft FY18 Q3 earnings: $26.8 billion on cloud and Office growth

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Microsoft (MSFT) this afternoon reportedfiscal Q3 revenue and profit that comfortably surpassed expectations, although its shares sagged in late trading.

Microsoft Corp. exceeded analysts' projections for fiscal third-quarter sales and profit, lifted by strong corporate demand for cloud-computing services as the software maker added new features.

Microsoft said https://www.microsoft.com/en-us/Investor/earnings/FY-2018-Q3/press-release-webcast net income rose to $7.42 billion or 95 cents per share in the third quarter ended March 31, from $5.49 billion or 70 cents per share, a year earlier.

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Analysts had, on average, been modeling $25.77 billion in revenue and GAAP earnings of 85 cents per share. Its net profit was roughly $7.4 billion, up from almost $5.5 billion during the year-ago quarter.

In terms of the More Personal Computing category, which encompasses Windows OEM revenue, Surface, gaming and more, things were on the up as well. The Azure cloud service saw revenue rise 93%, pretty much what the Street had been expecting.

Microsoft's stock closed up more than 2 percent to $94.26 in Thursday's regular session.

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