Microsoft beats cloud revenue estimates on strong Azure
Microsoft reported stronger than expected quarterly cloud revenue and free cash flow as its Azure business surged. The strong results eased Wall Street concerns over heavy artificial intelligence spending that has pressured other tech giants.
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MICROSOFT CORP reported fiscal first-quarter cloud revenue that beat expectations on Wednesday, generating $18.6 billion in free cash flow as Azure surged 48%. The results offered respite from Wall Street's growing anxiety over debt-fueled AI spending by Big Tech. Unlike peers facing negative cash flows and rising debt loads, Microsoft's lower-than-forecast capital expenditures set it apart.
