Microsoft Stock Jumps as Earnings Top Estimates. Its Cloud Business Is Getting an AI Boost.

Microsoft shares are headed higher in late trading Thursday after the software giant posted better-than-expected March quarter results, including another quarter of strong performance by the company's Azure cloud computing business. Microsoft shares were 5.6% higher in late trading. For the quarter, Microsoft reported revenue of $61.9 billion, up 17% from the year-earlier quarter, and $1 billion above the Street consensus as tracked by FactSet at $60.9 billion.