Microsoft's profit bigger than expected

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Microsoft's profit bigger than expected
Photo: Dita Alangkara/AP/TT

Software giant Microsoft beat market expectations for revenue and profit for the latest quarter. Despite this, the stock fell in after-hours trading.

Revenue for the quarter amounted to $77.7 billion, equivalent to 728 billion kronor. Analysts' average forecast was $75.3 billion.

The company's adjusted earnings are calculated at $4.13 per share according to the interim report. Analysts believed in earnings of $3.67 per share.

Sales of the cloud service Azure increased by 39 percent compared to the same quarter last year. That's more than the 37 percent analysts had expected, but still wasn't enough to please investors.

In after-hours trading, the stock fell about three percent on the report.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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