Microsoft beats expectations fueled by Azure cloud business

Microsoft shares popped more than five percent on Wednesday, fueled by its Azure cloud computing division which grew by 48 percent in the September quarter. The earnings release followed recent voluntary buyouts offered to a portion of its workforce while heavy capital expenditures for AI infrastructure continued.

While Microsoft's cloud and AI results drove an upward stock move, Alphabet experienced a different market response around the same reporting window due to profit and earnings reactions.