Microsoft's profit rises 16 percent

26 October 2017: Microsoft Corp (MSFT.O) reported a 16 percent rise in quarterly profit on Thursday as demand for its cloud computing services for companies rose and personal computer software business stabilized.

The technology giant's net income rose to $6.58 billion, or 84 cents per share, in the first quarter ended Sept. 30, from $5.67 billion, or 72 cents per share, a year earlier. (bit.ly/2lkGlyz)

Revenue rose 12 percent to $24.54 billion.

Microsoft’s focus on cloud applications and platforms is offsetting a drop in demand for personal computers that has hurt sales of Windows - the software that powered the company to the top during the dotcom boom.

Under Chief Executive Satya Nadella, Microsoft’s cloud business - which includes products such as Office 365, Dynamic 365 and the flagship Azure computing platform - has emerged as a major growth driver.