Microsoft revenue beats as remote work boosts Teams [Yahoo! Finance News]
Microsoft Corporation (MSFT)
Last microsoft corporation earnings: 4/29 04:06 pm
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Source: Yahoo! Finance News
By Ayanti Bera and Stephen Nellis) - Microsoft Corp on Wednesday beat Wall Street sales and profit expectations, powered by sharp demand for its Teams chat and online meeting app and Xbox gaming services as the world shifted to working and playing from home because of the novel coronavirus pandemic.The company's shares, up over 12% this year, rose about 5% in extended trading.The results reflect Chief Executive Satya Nadella's focus over his six-year tenure on cloud computing, in which companies tap Microsoft's data centers for computing power - a growing business dominated by Amazon.com Inc's Amazon Web Services.For the fiscal fourth quarter, Microsoft gave business-unit forecasts that were below analyst estimates, predicting tough times for LinkedIn and some small-business software sales."Ultimately, Microsoft is not immune from what is going on broadly in the world in terms of GDP growth," Nadella said on a conference call with investors.But results benefited from sales of its Wi
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