The company’s shares rose as much as 5.1 percent Thursday morning in New York.
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Microsoft Corp.'s cloud computing business fueled quarterly sales and profits that topped analysts' estimates, boosted by several new deals with large corporate clients.Azure cloud-services revenue rose 73 percent, slower than the 76 percent Microsoft posted in the fiscal second quarter.Sales of Office cloud software to business customers rose 30 percent.Worldwide public-cloud services sales are expected to grow 17.5 percent this year to $214.3 billion, according to Gartner Inc. Software and cloud company stocks recovered in the first four months of 2019, with Facebook Inc., Apple, Alphabet Inc. and Amazon all up this year, after a roller-coaster end to 2018 that saw shares drop amid concerns spending might be declining.The division's revenue rose 22 percent to $9.65 billion in the fiscal third quarter, above the $9.3 billion average estimate of seven analysts polled by Bloomberg.The division's sales rose 14 percent from a year earlier to $10.2 billion in the period ended March 31 .
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