Microsoft beats profit estimates but cloud growth slows

Microsoft Corp beat analysts' quarterly profit estimates on Wednesday, but growth in its Azure cloud computing platform slowed from a year earlier. The software maker's net income rose to $10.68 billion, or $1.38 per share, in the quarter ended Sept. 30 from $8.82 billion, or $1.14 per share, a year earlier.

Revenue rose to $33.06 billion from $29.08 billion a year earlier. Analysts had expected a profit of $1.25 per share on revenue of $32.23 billion, according to IBES data from Refinitiv.

Also Read: Despite inflation rise, analysts see RBI cutting rates in Dec