Microsoft scores record quarterly profit on cloud boost

REUTERS -Microsoft Corp posted its most profitable quarter on Tuesday, beating Wall Street expectations for revenue and earnings, as demand soared for the software giant's cloud-based services.

"It's a very impressive report from Microsoft with the company easily surpassing expectations on the performance of almost all business units," said Haris Anwar, senior analyst at Investing.com.Advertisement"That said, Microsoft's stock has made a big run since the beginning of the pandemic, and is trading at rich multiples," Anwar said.

But Xbox content and services revenue dipped, suggesting that a pandemic-fueled gaming boom is beginning to wane, said Paolo Pescatore, an analyst at PP Foresight. The company must strengthen its presence in the home to better compete with rivals, he added.Some Microsoft hardware lines were affected by a shortage of components such as chips, said Kyle Vikstrom, director of Microsoft investor relations.

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