Microsoft's revenue rose 20%, Azure grew 48% and beat estimates, and profit per share and free cash flow topped expectations. Its $45.2 billion in capital spending was substantial, but below its $50 billion projection, so the strong results outweigh that spending concern.
Together, these figures point to more sales from cloud services and more cash left after spending. Capital spending came in below Microsoft's own projection, so the reported figures show no clear setback to counter those gains.
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