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Cloud computing drives growth for US tech firms

1.94K 0 Inc., Microsoft Corp., Alphabet Inc.’s Google and Intel Corp. are all putting their chips on the cloud computing business, and it is booming.

All four companies posted stellar quarterly earnings on Thursday, showing the strength of the shift in corporate computing away from company-owned data centres and to the cloud.

Under chief executive, Satya Nadella, Microsoft’s cloud business—which includes products such as Office 365, Dynamic 365 and the flagship Azure computing platform—has emerged as a major source of growth. Revenue from Microsoft’s intelligent cloud business rose nearly 14% to $6.92 billion in Microsoft’s fiscal first quarter, ended 30 September. Analysts on average had expected $6.70 billion, according to financial data and analytics firm FactSet.

Revenue from Azure grew 90% compared to a 97% growth rate in the preceding quarter. The company does not break out revenue figures for Azure.

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Article Credit: Livemint

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