Microsoft is set to report earnings after the bell on Thursday as the company seeks to continue its momentum in the cloud business.
Azure, Microsoft's major cloud offering, saw revenue grow 102 percent during the fourth quarter. For the fiscal first quarter, analysts expect the entire intelligent cloud segment to bring in about $6.27 billion in adjusted revenue, according to a FactSet consensus estimate.
Wall Street also expects the company to report earnings of about 68 cents a share on $21.71 billion in revenue, according to a Thomson Reuters consensus estimate.
The company recently announced a partnership with Adobe in which the creator of Photoshop and Illustrator software packages named Microsoft Azure its "preferred cloud platform," while Microsoft said Adobe Cloud Marketing is its "preferred Marketing service."
Microsoft CEO Satya Nadella said the agreement "will bring together the cloud horsepower and end-to-end capabilities brands need to design and deliver great digital experiences."
In late September, the company said it was on track to complete its $40 billion stock buyback by the end of the year. If Microsoft does repurchase the full amount and doesn't reissue any of those shares, it would be among the largest buybacks done in the past decade.
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Microsoft set to release first-quarter results after market close
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