Microsoft’s cloud business helps offset pandemic woes

Ongoing demand for Microsoft’s cloud computing services helped softened the blow of the coronavirus pandemic on the software giant’s other products in the first three months of the year. The company reported fiscal third-quarter profit of $10.75 billion, up 22% from the same period last year. Net income of $1.40 per share beat Wall Street expectations. The software maker posted revenue of $35.02 billion in the January-March period, up 15% from last year. Analysts polled by FactSet were expecting Microsoft to earn $1.27 per share on revenue of $33.8 billion for the January-March quarter.¬†