Microsoft profit up 24% in quarter, driven by cloud growth

Growth in Microsoft’s cloud computing business helped push its profit up 24 per cent in the July-September quarter over the same time last year.

The Redmond, Washington-based tech company on Tuesday reported quarterly profit of $17.2 billion, or $2.27 per share, beating Wall Street expectations of $2.08 per share.

Microsoft profits have soared throughout the pandemic thanks to ongoing demand for its software and cloud computing services for remote work and study.

Microsoft posted revenue of $45.3 billion in its fiscal first quarter, up 22 per cent from last year. Analysts had been looking for revenue of $44 billion, according to FactSet Research.