Revenue at Microsoft’s Azure cloud division expanded by 39% only narrowly topped analyst expectations of 38.8%, but was slightly lower than prior quarter. On the other hand, Microsoft’s cloud business continued its strong performance, with Microsoft Cloud revenue exceeding $50 billion for the quarter. Operating income rose 21% to $38.3 billion compared to the same period last year. The company’s net income on a GAAP basis increased 60% to $38.5 billion, while non-GAAP net income rose 23% to $30.9 billion. Related articlesMicrosoft shares drop on softer Azure momentum and higher capexJPMorgan outlines ten strategic themes that could shape the outlook for 20265 reasons why Jefferies thinks Meta’s pullback is a buying opportunity