By Ben Glickman

 

Microsoft saw faster sales growth in the third quarter off the back of stronger sales in its Microsoft Azure cloud business. Its profit rose 27%, ahead of Wall Street's forecasts. Shares rise 4.1%, to $344, after-hours.

Alphabet, the parent company of Google, posted third-quarter profit ahead of Wall Street's estimates, but its cloud-computing segment delivered lackluster results. The company's cloud business saw sales grow 22% in the third quarter, slower than last year's growth and below what analysts were expecting. Shares fall 6.1%, to $131.51, after-hours.

Stride swung to a profit in the fiscal first quarter from a year-ago loss as its revenue rose almost 13%, to $480.2 million. Analysts polled by FactSet were expecting a loss in the period, but the company got a boost from higher education-technology enrollment. Shares rise 12%, to $49.85, after-hours.

 

Write to Ben Glickman at ben.glickman@wsj.com

 

(END) Dow Jones Newswires

October 24, 2023 20:01 ET (00:01 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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