MarketWatch First Take: Microsoft earnings show Nadella is blazing the right path

Microsoft Corp. proved again that Chief Executive Satya Nadella’s efforts to refocus the company on cloud computing as PC sales slumped was the right direction for the software giant.

Just a few days shy of the fourth anniversary of Nadella being named Microsoft CEO, the company reported another big surge in its cloud-computing businesses Wednesday. Overall, Microsoft MSFT, +2.45%reported better-than-expected earnings for its fiscal second quarter, even as the company reported a net loss because of a whopping $13.8 billion charge associated with changes in the U.S. tax code.

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