Microsoft’s results are in the clouds

Fortune

Microsoft’s third-quarter sales rose 6.5%, in part from gains by its cloud computing business, to beat Wall Street’s expectations. Here are the key points from Thursday’s earnings release.

What you need to know: Microsoft posted quarterly revenue of $21.7 billion, up from $20.4 billion during the same period last year. Those sales figures also beat analyst forecasts of $21.06 billion, according to Thomson Reuters.

The 6.5% sales jump came courtesy of yet another quarter in which Microsoft doubled its commercial cloud revenue while also getting a lift from the mobile phone business it acquired from Nokia in early 2014.

Microsoft also said that quarterly profits dropped 11.9% to $4.9 billion, or 61 cents per share. The company noted in its earnings release that the results include another $190 million in “integration and restructuring expenses” that stem from the massive layoffs Microsoft announced last summer as well as from ongoing…

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