Microsoft sales top forecast, bolstered by cloud-computing growth

Microsoft posted its strongest sales increase in six quarters, bolstered by recovering cloud-computing growth amid demand for new artificial intelligence products that are prompting corporate customers to shift back into spending mode.

Revenue in the fiscal first quarter, which ended September 30, rose 13 per cent to $56.5 billion, topping analysts’ average projections. Profit was $2.99 a share, the software maker said in a statement Tuesday. Azure cloud-services sales gained 29 per cent, compared with 26 per cent growth in the previous quarter. The shares jumped more than 5 per cent in late trading.