Cloud Revenue Helps Fuel Microsoft's Big Earnings
The future is up in the air. While PC sales continue their slump, the Redmond, Washington, firm is also softening its ambitions for phone sales - instead betting big on cloud computing. So far it's working: Microsoft raked in $22.6 billion in earnings for the quarter, beating Wall Street estimates and cheering investors. The computing stalwart's commercial cloud business had a $12.1 billion run rate, a number the company aims to push to $20 billion by 2018, even as it shifts focus toward its $26.2 billion acquisition of LinkedIn.