:Microsoft Corp missed estimates for quarterly revenue on Tuesday, hurt by a stronger dollar, slowing sales of PCs and lower advertisement spending.
Microsoft also faces pressure from a stronger greenback as it gets about half of its revenue from outside the United States. That led the company to lower its fourth-quarter profit and revenue forecasts in June. Microsoft's Azure cloud service grew by 40 per cent, compared with analyst estimates of 43.1 per cent, according to Visible Alpha.Revenue from its personal computing segment stood at $14.4 billion, compared with estimates of $14.68 billion.
Competition in the sector has ramped up since the COVID lockdowns as more businesses seek to move computing and data storage to the cloud.
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