Microsoft's quarterly profit rises 27.8 percent

(Reuters) - Microsoft Corp (NASDAQ: MSFT) reported a 27.8 percent increase in quarterly profit on Thursday, lifted by robust demand for its cloud computing services.

The company's net income rose to $4.80 billion, or 61 cents per share, in the third quarter ended March 31, from $3.76 billion, or 47 cents per share, a year earlier.

Revenue on an adjusted basis climbed 6 percent to $23.56 billion. (http://bit.ly/2oQAzSJ)

Under Chief Executive Satya Nadella, who took the helm in 2014, Microsoft has sharpened its focus on the fast-growing cloud computing unit to counter a prolonged slowdown in the PC market, which has weighed on demand for its Windows software.

The company's flagship cloud computing platform, Azure, competes with Amazon.com Inc's (NASDAQ: AMZN) Amazon Web Services, the market leader in cloud infrastructure.

(Reporting by Pushkala A and Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• What If the Next Generation of AI Data Centers Goes to the Energy Source?
• Silver Lake sues Carl Icahn and hedge funds over Endeavor buyout
• Kremlin says military is working to resolve humanitarian crisis in Russian-controlled Oleshky