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Strong cloud business boosts Microsoft's quarterly results

Reuters

(Reuters) - Microsoft Corp (MSFT.O) reported higher quarterly adjusted revenue, driven mainly by growth in the company’s cloud business.

The company’s shares jumped 3.5 percent to $54.91 in extended trading on Tuesday.

Revenue in the cloud business, which includes the Azure cloud platform as well as products related to server software, rose 7 percent to $6.7 billion.

Under the leadership of Satya Nadella, the software behemoth has focused on the building the company’s expertise in cloud-based services amid slowing PC sales.

Nadella, who took the helm in early 2014, oversaw the company’s largest-ever deal last month when it acquired LinkedIn Corp (LNKD.N) for $26.2 billion.

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The company posted net income of $3.12 billion, or 39 cents per share, for the fourth quarter ended June 30, compared with a loss of $3.2 billion, or 40 cents per share, a year earlier.

Adjusted revenue rose to $22.6 billion from $22.18 billion.

(Reporting by Rishika Sadam and Narottam Medhora in Bengaluru; Editing by Saumyadeb Chakrabarty)