Microsoft Earnings Climb, Lifted by Strong Growth in Cloud Computing - The New York Times

Microsoft in transition -- lower revenue but more profitable and more focused

"Microsoft’s revenue may have fallen 12 percent because it sold fewer smartphones and copies of Windows. But its earnings rose and the company had strong growth in the right place for investors — cloud computing, a business that is intoxicating to Wall Street because it represents the future of technology.

All else was forgiven as the tech giant posted its results on Thursday."

Microsoft Earnings Climb, Lifted by Strong Growth in Cloud Computing - The New York Times