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Microsoft soothes market fears with forecast for double-digit revenue growth

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Reuters UK

By Akash Sriram and Jane Lanhee Lee (Reuters) -Microsoft Corp on Tuesday forecast revenue this fiscal year would grow by double digits, driven by demand for cloud computing services and sending shares up 5%. The strong outlook shows Microsoft continues to benefit from the pandemic-led shift to hybrid work models and comes at a time when investors are bracing for disaster, with inflation roaring and consumers cutting spending. Despite the positive forecast for the fiscal year starting July 1, Microsoft results for the fourth quarter amounted to a slight miss, hurt by a stronger dollar, slowing …

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