Microsoft said its Azure cloud business surpassed $100 billion in annual revenue for the first time in its recently-ended fiscal year, rising 33% over last year’s $75 billion. Fourth quarter revenue reached $90 billion, up 18% year-over-year, beating analyst estimates of $87.7 billion. Full-year net income was $133.7 billion, up 31%, while diluted earnings per share rose 32% to $17.95. Microsoft shares rose more than 8% in after-hours trading, following a broad market selloff.
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