Microsoft Forecasts Double-Digit Revenue Growth on Cloud Strength

Microsoft Forecasts Double-Digit Revenue Growth on Cloud Strength
A smartphone in front of a Microsoft logo, on July 26, 2021. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

Microsoft Corp. on Tuesday forecast double-digit revenue growth for the next fiscal year, driven by demand for cloud computing services, and its shares jumped about 4 percent.

Microsoft forecast Intelligent Cloud revenue of $21.1 billion to $21.35 billion for its fiscal fourth quarter, driven by strong growth in its Azure platform. That compared with a Wall Street consensus of $20.933 billion, according to Refinitiv data.