Microsoft erases gains after saying Azure growth to decelerate

Microsoft Corp. said revenue growth in its Azure cloud-computing business will decelerate in the current period and warned of a further slowdown in corporate software sales, fuelling concern about a steeper decline in demand for the products that have driven its momentum in recent years.

hares erased earlier gains in late trading after Chief Financial Officer Amy Hood said Azure sales in the current period will slow by 4 or 5 points from the end of the fiscal second quarter, when gains were at a percentage in the mid-30s. That business had marked a bright spot in a lacklustre earnings report for Microsoft, whose other divisions were held back by a slump in sales related to personal computer software and video games.


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