Microsoft delivers on cloud performance in blowout quarter, Wedbush says wdaniel@businessinsider.com (Will Daniel)
Microsoft shares are rising after the company notched a blowout quarter, Wedbush analysts say.
Revenues grew 17% year-over-year as the company s cloud computing services outperformed.
Wedbush has raised its price target on Microsoft to $285 per share from $270.
Shares of Microsoft jumped in premarket trading on Tuesday after the company announced a blowout quarter, according to Wedbush analysts.
The Redmond, Washington-based big tech giant continued to benefit from the work-at-home environment in its most earnings release. Revenues shot up 17% year-over-year to $43.1 billion, beating analyst estimates by nearly $3 billion.