Microsoft's latest quarterly results beat analyst expectations and caused the firm's share price to jump to its highest ever value.
Net profit was up six per cent year on year to $6bn for the three months to the end of September, and adjusted earnings came in at $22.3bn. Analysts had expected $21.7bn.
The news sent Microsoft shares up six per cent to $60.73 in New York, beating the firm's previous record of $59.97 in 1999 during the dotcom boom.
The rise in profit was due in part to an eight per cent hike in cloud revenue to $6.4bn. Microsoft said that customer uptake of the Azure cloud computing platform more than doubled in the past year.
These results chime perfectly with V3 sister title Computing's latest research into cloud trends, which found that UK-based enterprises are more likely to consume cloud services from Microsoft than from any of its rivals, including Amazon.
Microsoft CEO Satya Nadella (pictured) claimed that the changing business environment meant that the firm's cloud strategy is paying off.
"It's not just the Silicon Valley startups anymore. It's the core enterprise that is also becoming a digital company, and we are well positioned to serve them," he said.
Revenue from Microsoft's Office 365 cloud service increased eight per cent in the quarter, while the Surface line saw 38 per cent revenue growth.
However, the good news wasn't quite universal for the firm. Revenue from the Xbox fell, although even this dark cloud came with a silver lining as the number of people using the device to play online rose to 47 million from 39 million last year.
This revenue line could also soon see growth if Microsoft can work out how to better monetise this growing audience.
Intel claims 'world first' in artificial intelligence that can be plugged-in almost anywhere
Trusts have purchased almost 385,000 new PCs since 2013, at a cost of £260 million
The council will use funds from the project to fund network expansion
Mark Vartanyan was working for Norwegian e-healthcare firm Dignio when he was arrested