Cloud computing helps power strong Microsoft quarter

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Cloud computing helps power strong Microsoft quarter
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The tech titan said it made a profit of $16.7 billion on revenue of $49.4 billion in the first three months of this year, eight percent and 18 percent, respectively, more than in the period a year earlier.

"Going forward, digital technology will be the key input that powers the world's economic output," said Microsoft chief executive Satya Nadella.

Revenue in the company's "intelligent cloud" unit that meshes datacenter-hosted software with artificial intelligence surged from the same period a year earlier, Microsoft reported. A business and productivity unit at Microsoft that includes its online suite of Office 365 software saw revenue grow with the help of a 34 percent increase in money taken in by career-focused online social network LinkedIn, the earnings report showed.

Microsoft is seeking regulatory approval for its $69 billion deal to buy video game powerhouse Activision Blizzard.

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