Microsoft beats quarterly revenue estimates on cloud boost

Bengaluru: Microsoft Corp beat Wall Street expectations for quarterly revenue on Tuesday, as demand soared for the software giant’s cloud-based services from businesses adopting hybrid work models.

The company’s revenue rose to $45.32 billion in the first quarter ended September 30, from $37.15 billion a year earlier. Analysts on average had expected revenue of about $43.97 billion, according to Refinitiv data.