Microsoft's Focus on Cloud Pays Off in Second Quarter - TheStreet

Microsoft's Focus on Cloud Pays Off in Second Quarter

Shares of Microsoft were higher Friday after posting top- and bottom-line beats for the second quarter.
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Shares of Microsoft (MSFT) - Get Report were higher Friday after posting top- and bottom-line beats for the second quarter. The tech giant reported earnings of 83 cents a share on revenue of $25.8 billion. The company's cloud unit saw revenue of $6.9 billion, which also surpassed estimates. As a result of the stellar results, Raymond James raised its price target to $73 from $69, saying the company's transition to cloud should remain on track. BMO Capital Markets also raised its price target by $3 to $71, but said that Microsoft will need to diversify its profit growth.

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