Why Microsoft Stock Popped Today

$Microsoft (MSFT.US)$ reported earnings per share of $2.22, up 9% from the year-ago quarter, and ahead of analysts' consensus estimate of $2.18. The tech company's sales of $49.36 billion -- up 18% year over year -- also outpaced Wall Street's expectation of $49.03 billion for the quarter.
Microsoft's commercial bookings and cloud sales were two bright spots in the quarter that management highlighted in a press release. Amy Hood, Microsoft's executive vice president and CFO, said in a statement that "customer commitment to our cloud platform and strong sales execution" helped push commercial bookings up 28% and cloud revenue up 32%.
Revenue from the company's Intelligent Cloud segment, which includes its popular Azure cloud computing service, spiked 26% to $19.1 billion in the quarter.