- NZ chase 275 to win first Sri Lanka Test after Patel bags six
- Ashwin bags six wickets as India hammer Bangladesh in first Test
- Nascent French government under pressure on multiple fronts
- Angry French cognac makers see red over Chinese tariffs threat
- Protect the prosciutto: Italy battles swine fever
- UN holds 'Summit of the Future' to tackle global crises
- Marxist leader set to become Sri Lanka's next president
- From blades to pull-up bars: UK charity tackles knife crime
- Swiss vote on pensions and environment protections
- No pain, no gain: Chinese pro wrestlers fight for recognition
- UAE leader seeks to deepen 'strategic' ties in US visit during Mideast crisis
- Hezbollah takes heavy hits but still fighting Israel
- Floods, landslides hit central Japan months after major quake
- All Blacks coach Robertson demands better finishing
- Argentina edge South Africa to keep title hopes alive
- Biden says China 'testing us,' in hot mic remarks to Quad allies
- Dubois destroys Joshua to retain IBF world heavyweight crown
- Guardiola says critics want Man City wiped 'from face of the Earth'
- Biden says 'Quad' is 'here to stay' despite challenges
- Dubois knocks out Joshua to retain IBF world heavyweight crown
- Vinicius helps 'faster' Madrid overturn stubborn Espanyol
- Zelensky to press US on long-range missile strikes inside Russia
- PSG drop first points in draw at Reims
- Vinicius, Mbappe on target as Madrid crush plucky Espanyol
- Jeeno leads Ko by two at LPGA Queen City Championship
- Bottega Veneta goes for 'E.T.' chic as Madonna pops into D&G
- Messi, Miami frustrated by New York late leveler
- Musk's X platform takes first step toward lifting Brazil ban
- 'Business as usual' for Australia match-winner Carey amid boos
- Israeli jets pound Lebanon after deadly Beirut strike
- Ten Hag bemoans Man Utd's lack of killer instinct in Palace stalemate
- France's Macron appoints new government in shift to right
- Cheika proud of Leicester grit after winning start as boss
- Profligate Man Utd pay price in 0-0 draw at Palace
- Kane, Olise run riot as Bayern thump Bremen
- Diaz fires Liverpool top of Premier League, Man Utd held at Palace
- LIV champion Rahm out of LIV Team semis with severe flu
- Slot surprised by tearful Nunez's moment of magic
- Title rivals Norris, Verstappen on 'cool' front row for Singapore GP
- Biden talks China with 'Quad' leaders in hometown summit
- Juve and Napoli play out goalless draw in early Serie A title tussle
- Alcaraz fears tennis tour grind will 'kill us'
- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
Cloud computing helps power strong Microsoft quarter
Microsoft on Tuesday reported strong quarterly earnings, powered by demand for cloud computing.
The tech titan said it made a profit of $16.7 billion on revenue of $49.4 billion in the first three months of this year, eight percent and 18 percent, respectively, more than in the period a year earlier.
"Going forward, digital technology will be the key input that powers the world's economic output," said Microsoft chief executive Satya Nadella.
"Across the tech stack, we are expanding our opportunity and taking share as we help customers differentiate, build resilience, and do more with less."
Microsoft shares rose more than four percent to $282.44 on the earnings figures, which came with an optimistic outlook for the current financial quarter.
Revenue in the company's "intelligent cloud" unit that meshes datacenter-hosted software with artificial intelligence surged from the same period a year earlier, Microsoft reported.
"Continued customer commitment to our cloud platform and strong sales execution drove better-than-expected commercial bookings growth" along with cloud computing revenue, Microsoft chief financial officer Amy Hood said in the earnings release.
The pandemic accelerated a shift to relying on the internet for work, education, shopping, socializing and entertainment, with Microsoft seemingly positioned to benefit from lifestyle changes that will remain even as people return to being out and about.
A business and productivity unit at Microsoft that includes its online suite of Office 365 software saw revenue grow with the help of a 34 percent increase in money taken in by career-focused online social network LinkedIn, the earnings report showed.
"Growth for LinkedIn was the most surprising," CFRA equity research vice president John Freeman told AFP.
"LinkedIn continued to be Microsoft's lower profile success story. That acquisition is looking better and better every year and every quarter."
Microsoft bought LinkedIn for slightly more than $26 billion in 2016.
Money taken in for content and services at Microsoft's Xbox video game division rose four percent in the recently ended quarter as the company works to beef up its cloud-based games subscription offering.
Microsoft is seeking regulatory approval for its $69 billion deal to buy video game powerhouse Activision Blizzard.
Merging with troubled Activision will make Microsoft the third-largest gaming company by revenue, behind Tencent and Sony, it said, a major shift in the booming world of games.
Activision, the California-based maker of "Candy Crush," has been hit by employee protests, departures, and a state lawsuit alleging it enabled toxic workplace conditions and sexual harassment.
"Acquiring Activision will help jump start Microsoft's broader gaming endeavors and ultimately its move into the metaverse with gaming the first monetization piece of the metaverse in our opinion," Wedbush analysts said after the news broke.
R.Adler--BTB