Microsoft Forecasts Double-Digit Revenue Growth on Cloud Strength

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Microsoft Corp. on Tuesday forecast double-digit revenue growth for the next fiscal year, driven by demand for cloud computing services, and its shares jumped about 4 percent. Microsoft forecast Intelligent Cloud revenue of $21.1 billion to $21.35 billion for its fiscal fourth quarter, driven by strong growth in its Azure platform. That compared with a Wall Street consensus of $20.933 billion, according to Refinitiv data. “If there is any macro headwind, where you have more value for less price means you win. In our case, when it comes to our commercial cloud offerings, we have significant advantages on that across the stack,” Microsoft’s chief executive, Satya Nadella, said when asked how the company was projecting double-digit growth for the next fiscal year. ...

Source: https://www.theepochtimes.com/microsoft ... 29380.html