Channel Beat: Microsoft Q1 Earnings Get Lift From Booming Cloud Business

Microsoft got a boost from its crucial cloud business during Q1 of its fiscal year 2017, CEO Satya Nadella shared.

Commercial cloud margins were up 7 percent from the previous quarter, sending shares up more than 5 percent.

Microsoft's overall business grew 3 percent, and Microsoft Azure revenue grew 116 percent year-over-year.

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This week Verizon reported declining revenues across the board for its Q3 earnings report.

Despite rumors suggesting otherwise, Verizon appears to be moving forward with its $4.8 billion acquisition of Yahoo following a major hack of Yahoo user accounts.

Total operating revenues within Verizon fell to $30.9 billion dollars from $33.2 billion in the same quarter last year. Net Income also fell.

Microsoft and Apple are both expected to hold major new-product events next week, and Apple is rumored to be debuting new Macs at its Thursday event.

Apple hasn't released a new version of the MacBook Pro in about four years.

The new version is expected to be faster and thinner with a touch screen strip above the keyboard.

Microsoft is expected to introduce an all-in-one Surface PC on Wednesday.