Microsoft Beats Cloud Estimates
Microsoft reported first-quarter Azure revenue of 33.17 billion dollars, surpassing estimates and easing investor concerns over heavy artificial intelligence spending. The company posted strong free cash flow while capital expenditures rose to 45.2 billion dollars.
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MICROSOFT CORP reported Azure cloud revenue grew 48% to $33.17 billion in the first quarter, topping analyst projections. The results eased Wall Street concerns over the heavy debt-fueled spending sweeping the tech sector. Strong cloud demand demonstrates that massive artificial intelligence investments are delivering tangible financial returns.
