Microsoft (NASDAQ: ) released its third quarter results. The EPS was $2.22 which beat the consensus estimate at $2.18. The revenue grew by 18% over the year to $49.4 Billion, which is slightly higher than the $49.03 billion consensus estimate.

Segment revenue for Productivity and Business Processes rose 17% to $15.8billion, Intelligent Cloud revenue rose 26 percent to $19.1billion, More Personal Computing revenue rose 11% at $14.5billion

Satya Nadella, CEO of Satya Technologies said that digital technology would be the main input to the growth and development of the global economy. As we assist customers in differentiation, building resilience, and doing more with less, our tech stack is expanding and increasing our share.

This quarter saw an increase in stock repurchases of $12.4 billion, which is 25% more than the prior quarter.

Microsoft shares are up 20% for the year. After-hours, they are flat.

By Davit Kirakosyan