Microsoft Stock Jumps After Earnings Beat. The Cloud Looks Strong.

Microsoft shares are trading sharply higher after the company posted better-than-expected financial results for its September quarter. The software firm posted revenue of $56.5 billion, up 13% from a year ago, and $2 billion ahead of Wall Street estimates. Importantly, the company’s Azure cloud business grew 28% on a constant currency basis in the quarter, well above the company’s forecast for growth of 25% to 26%; on a GAAP basis Azure grew 29%.