Why Microsoft’s Cloud Could Keep Growing
Microsoft's (NASDAQ: MSFT) cloud business may not post 70% revenue growth quarter after quarter anymore, but that's not to say high double-digit returns won't be the norm for years to come. Expansion in key markets including e-commerce and healthcare are positioning Microsoft for just that kind of future growth.
Even before the COVID-19 pandemic spread, Microsoft's cloud business was booming as it slowly and methodically chipped away at rival Amazon's (NASDAQ: AMZN) Amazon Web Services lead. But amid the pandemic, with work-at-home the new norm, demand for its cloud services have been surging.
Office 365 now has 258 million paid seats, while Teams, its collaboration platform has more than 75 million daily active users. Corporations are also seeking out the tech stock's cloud offering, with Azure usage increasing during the pandemic.
Source Fool.com
