Microsoft quarterly earnings surge on cloud computing

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Microsoft's revenue exceeded market expectations as demand for cloud computing and PCs powered by its software picked up during the pandemic.

Microsoft on Tuesday reported quarterly earnings the blew past market expectations, fueled by demand for cloud computing and Windows-powered machines.

"Digital technology is a deflationary force in an inflationary economy," Microsoft chief executive Satya Nadella said in an earnings release. Personal computer sales – which had been waning in a world increasingly obsessed with smartphones – revived during the pandemic, as users relied more on home internet connections for work, school and social life.

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