Microsoft Q3 earnings: Cloud unit jumps 27% year-over-year [Yahoo! Finance News]
Microsoft Corporation (MSFT)
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Source: Yahoo! Finance News
Microsoft MSFTreported its Q3 2020 earningsThese are the most important numbers from the report, and what analysts were expecting as compiled by .The company’s stock was up slightly in after hours trading.In a statement, the company said it saw “minimal net impact on the total company revenue” from the coronavirus pandemic.“Our durable business model, diversified portfolio, and differentiated technology stack position us well for what’s ahead,” CEO Satya Nadella said in the earnings release.Microsoft’s Intelligent cloud division has been a key mover for its stock, with analysts and investors banking on the business’s continued growth as more companies move their resources to third-party cloud operators.The segment made up roughly 35% of Microsoft’s revenue in Q3. It’s Azure business, which is a part of the Intelligent Cloud division, saw 59% revenue growth in the quarter.In February, Microsoft announced that it wouldmiss its Q3 2020 revenue guidanceThe company had already provided a w
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