Microsoft has reported profits of $3.12bn for the quarter ending 30 June 2016 and revenues of $20.6bn, driven mainly by cloud computing.
Although overall revenues were down 7.5% compared with the same period a year ago, the profits were in sharp contrast to £3.19bn losses for the same period a year ago due to a write down of the assets acquired from Nokia.
Microsoft’s strong performance, particularly by its cloud services, boosted investor confidence and saw the company’s share price rise 4% in after-hours trading in New York, according to the BBC.
