MICROSOFT SHARES HIT HIGH AS CLOUD BUSINESS FLIES ABOVE ESTIMATES
Microsoft Corp reported adjusted revenue and profit that blew past analysts' estimates on Thursday, as soaring sales from its cloud business pushed the technology giant's shares to an all-time high. The news underscores the dramatic yet still early shift of businesses switching to cloud services after long relying on software programs and other hardware. Shares of Microsoft rose 6.1 percent to $60.73 in after-hours trading, adding more than $27 billion to its market value. The Redmond, Washington-based company said revenue from its flagship cloud product Azure, which businesses can use to host their websites, apps or data, rose 116 percent.