by Redmond, Washington (AP) -Microsoft Cloud Computing and Artificial Intelligence Business contributed to the fact that sales of $ 70.1 billion by 18% of by 18%, a dose for investors in turbulent time for the Tech sector and the US economy.
The company reported a quarterly net result of $ 25.8 billion or $ 3.46 per share and exceeded the Wall Street expectations for a profit of $ 3.22 per share.
The software manufacturer based in Redmond, Washington, achieved an increase of $ 70.1 billion in the reporting period, its third business quarter, an increase of 13% compared to the previous year and also the expectations of Wall Street. The analysts surveyed by Factset expected Microsoft to achieve sales of 68.44 billion US dollars for the quarter.
Microsoft belongs to a group of Bellwether companies in the tech industry that has returned to the White House since President Donald Trump.
Microsoft’s share price has dropped by almost 8% since Trump’s inauguration in January, at about 395 US dollars on Wednesday from the end of the markets. But the investors seemed to be delighted after Microsoft published his winning report and sent stocks with After-Hours more than 6%.
Sales from the Cloud Computing Business segment from Microsoft rose by 21%to $ 26.8 billion and also defeated the Wall Street projections.
