Microsoft grows underlying earnings on expansion in cloud

(Telecompaper) Microsoft reported better-than-expected results for its fiscal first quarter to September, driven by continued strength in its cloud services business. Revenue was little changed year-on-year at USD 20.5 billion, but excluding Windows deferral revenues and currency effects, rose 5 percent. Operating profit fell 10 percent to USD 5.2 billion, and net profit dropped 4 percent to USD 4.7 billion, also impacted by currency effects. Excluding one-time effects, earnings rose 9 percent,