Microsoft pops after reporting better-than-expected earnings and revenue [CNBC]
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Source: CNBC
Microsoft pops after reporting better-than-expected earnings and revenue Chesnot | Getty Images Microsoft CEO Satya Nadella speaks to participants during the Viva Technologie show at Parc des Expositions Porte de Versailles on May 24, 2018, in Paris results Here are the key numbers: : Microsoft shares are trading near a record after rallying 34% over the past year. The stock climbed past $129 in extended trading and is a little over $1 away from lifting the company to a market value of $1 trillion. Sales jumped 14% in the latest quarter, driven by the company's transition to the public cloud as more large businesses offload their servers and data storage to Azure infrastructure. Gross margin, or the percentage of revenue left after accounting for the costs of goods sold, was 66.7% up from 65.4% a year earlier. Net income rose 19% to $8.8 billion. Azure's revenue surged 73%. Microsoft's commercial cloud business, which includes Azure, grew 41% in the quarter to $9.6 billion. While Azu
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