Microsoft’s cloud business keeps profits flowing in tougher times

Microsoft Corp posted results on Tuesday that showed some strength in the face of a weak economy, buttressed by a cloud business that hit Wall Street targets for the end of 2022, but it may miss expectations in the current quarter.

The relatively stable outlook helped assuage fears that the lucrative cloud segment for big tech companies could be hit hard as customers look to cut spending, and cloud revenue in the fiscal second quarter reported on Tuesday made up for some weakness in the PC unit.