Microsoft has reported faster sales growth in the third quarter, driven by strong performance in its Microsoft Azure cloud business. The company’s profit has risen 27%, surpassing the expectations of Wall Street analysts. As a result, Microsoft’s shares have risen by 4.1% to $344 after the market closed.
Alphabet’s Cloud Computing Segment Disappoints in Q3
Alphabet, the parent company of Google, has posted third-quarter profit that exceeded Wall Street’s estimates. However, its cloud-computing segment has reported lackluster results. Sales in the company’s cloud business have grown by 22% in Q3, but this growth has been slower compared to last year and fell short of analysts’ expectations. Consequently, Alphabet’s shares have fallen by 6.1% to $131.51 after-hours.
Stride Reports Profit in Q1, Boosted by Higher Education-Technology Enrollment
In the fiscal first quarter, Stride has turned a profit from a year-ago loss as its revenue increased by almost 13% to $480.2 million. Analysts surveyed by FactSet were anticipating a loss during this period, but the company’s higher education-technology enrollment has provided a significant boost. As a result, Stride’s shares have risen by 12% to $49.85 after the market closed.