April 27, 2017 / 8:20 PM / 7 months ago

Microsoft's quarterly profit rises 27.8 percent

(Reuters) - Microsoft Corp (MSFT.O) reported a 27.8 percent increase in quarterly profit on Thursday, lifted by robust demand for its cloud computing services.

FILE PHOTO: An advertisement is played on a set of large screens at the Microsoft office in Cambridge, Massachusetts, U.S., on January 25, 2017. REUTERS/Brian Snyder/File Photo

The company’s net income rose to $4.80 billion, or 61 cents per share, in the third quarter ended March 31, from $3.76 billion, or 47 cents per share, a year earlier.

Revenue on an adjusted basis climbed 6 percent to $23.56 billion. (bit.ly/2oQAzSJ)

Under Chief Executive Satya Nadella, who took the helm in 2014, Microsoft has sharpened its focus on the fast-growing cloud computing unit to counter a prolonged slowdown in the PC market, which has weighed on demand for its Windows software.

The company’s flagship cloud computing platform, Azure, competes with Amazon.com Inc’s (AMZN.O) Amazon Web Services, the market leader in cloud infrastructure.

Reporting by Pushkala A and Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar

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