Microsoft Stock Rises After Earnings Beat. Its Azure Cloud Grew 33%.
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Microsoft stock was rising after the tech giant reported better-than-expected third-quarter financials. Microsoft reported third-quarter adjusted earnings of $3.46 a share on revenue of $70.1 billion. Microsoft also reported capital expenditures in the quarter of $16.7 billion, slightly higher than Wall Street estimates of $16.2 billion and up from the $11 billion in the same period one year ago.
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