Why Microsoft Stock Jumped Today
Shares of Microsoft (NASDAQ: MSFT) climbed 6% on Wednesday after the tech titan's growth forecast helped to calm investors' fears.
Microsoft's revenue rose 12% year over year to $51.9 billion in its fiscal 2022 fourth quarter, which ended on June 30. The gains were driven by strong growth in the software giant's Azure cloud infrastructure platform. Sales in this key segment surged 40%. "In a dynamic environment we saw strong demand, took share, and increased customer commitment to our cloud platform," CFO Amy Hood said in a press release.
Yet Microsoft's results were negatively impacted by a sharp decline in global personal computer (PC) sales. Although revenue for its Office 365 commercial and consumer revenue both increased by 9%, Microsoft's Windows OEM revenue declined by 2%.
Source Fool.com
