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2023-01-24 21:08:09

Microsoft's profit beats estimates on strong cloud performance

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Channel NewsAsia
By Cna

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:Microsoft Corp reported a better-than-expected quarterly profit on Tuesday as strong performance at its cloud services business helped offset a slump in the personal computer market, sending its shares 4 per cent higher in extended trading.

The upbeat results from Microsoft, whose business spans cloud services, software, gaming and computer hardware, will likely allay fears of a meltdown in the tech industry that has laid off thousands of employees this year in anticipation of an economic downturn.

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