Strong results attributed to reorganizing the company’s priorities to cloud computing and artificial intelligence

Microsoft’s revenue exceeded $100bn for the first time in fiscal year 2018, the company reported Thursday, as the legacy software company’s efforts to reinvent itself as a major player in cloud computing continued to pay off.

Microsoft stock jumped more than 4% in after-hours trading as the company beat analyst expectations with earnings for the quarter of $8.8bn, or $1.14 per share.

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