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Microsoft beat expectations for revenue and cloud sales on Thursday in an earnings report that cheered investors who have been looking for signs of a pay-off from its investment in artificial intelligence.
Revenue climbed 17 per cent to $61.9bn in the three months to March 31, compared with analyst expectations for $60.80bn.
Shares in the Seattle-based company — which have risen 7.6 per cent this year to make it the world’s most valuable company by market capitalisation — were up 6 per cent in after-hours trading.
Sales in Microsoft’s closely watched cloud division, its biggest revenue driver that includes its Azure computing platform, also beat expectations.
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