Microsoft cloud growth surges 50%, beating analyst expectations
Microsoft on Tuesday reported its Azure cloud computing services grew 50% as the global pandemic benefited the software maker’s investment in working and learning from home. The company’s shares rose 6% in extended trading after gaining about 41% in 2020 as COVID-19 shifted computing to areas where the software maker has bet big.
The shift to work from home due to the pandemic has accelerated enterprises’ switch to cloud-based computing, benefiting Microsoft and rivals such as Amazon’s cloud unit and Alphabet’s Google Cloud.
