Microsoft sales climb 17%, lifted by robust cloud demand; stock jumps

Microsoft Corp. said fiscal second-quarter sales rose 17%, a faster clip than analysts projected, thanks to buoyant demand for corporate cloud-computing services and software tools that support at-home workers. Shares rose in late trading.

Revenue in the period ended Dec. 31 rose to $43.1 billion, the Redmond, Washington-based software maker said Tuesday in a statement. That exceeded the $40.2 billion average estimate of analysts polled by Bloomberg, and marked Microsoft’s 14th straight quarter of double-digit revenue growth. Net income was $15.5 billion, or $2.03 a share. Analysts had predicted $1.64.

Microsoft shares climbed about 3.1% in premarket trading in New York on Wednesday, as it continued to surpass record highs. The stock rose 5.7% during the quarter, compared with a 12% gain in the S&P 500 Index.