Microsoft forecasts strong growth for Azure cloud business, shares surge 8%

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Microsoft forecasts strong growth for Azure cloud business, shares surge 8% - Channel News Asia

Quick Summary:

Microsoft forecast on Wednesday stronger-than-expected quarterly growth for its cloud-computing business Azure after blowout results in the latest quarter, assuaging investor worries in an uncertain economy and lifting its shares 8 per cent after hours.

Neilson said inventory levels had already been high during the company's fiscal second quarter as retailers stocked up on computers and gaming consoles on tariff worries.

Jonathan Neilson, Microsoft's vice president of investor relations, said that reflected a shift in Microsoft's spending from long-lived assets such as data center buildings toward more spending on shorter-lived assets such as chips.