Microsoft beats Wall Street expectations for early 2021

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Microsoft’s business beat Wall Street expectations for the first three months of 2021, thanks to ongoing demand for its software and cloud computing services during the pandemic.

The company on Tuesday reported fiscal third-quarter profit of $14.8 billion, up 38% from the same period last year.

Net income of $1.95 per share beat Wall Street expectations. Analysts were expecting Microsoft to earn $1.78 per share on revenue of $41 billion for the fiscal quarter ending in March, according to FactSet.

The software maker posted revenue of $41.7 billion in the January-March period, up 19% from last year.

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