Microsoft beats quarterly revenue estimates

(Reuters) -Microsoft on Tuesday beat Wall Street estimates for first-quarter revenue, driven by growth in its cloud computing and office software businesses.

The company’s revenue rose 13% to $56.5 billion in the quarter ended September, compared with analysts’ consensus estimate of $54.52 billion, according to LSEG data.

Shares of the Redmond, Washington-based company gained nearly 6% in after-market trading.

Revenue from Microsoft (NASDAQ:)’s Intelligent Cloud unit, which houses the Azure cloud computing platform, grew to $24.3 billion, compared with analysts’ estimate of $23.49 billion, LSEG data showed.

Azure revenue rose 29%, higher than a 26.2% growth estimate from market research firm Visible Alpha.

The company does not break out the absolute revenue figure for Azure, the part of Microsoft’s business best situated to capitalize on booming interest in artificial intelligence.

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