Microsoft’s quarterly earnings report Tuesday easily topped analysts' expectations, as its key cloud product, Azure, saw revenue grow 102%.

The technology giant posted fiscal fourth-quarter earnings per share of 69 cents. Revenue came in at $22.64 billion.

Shares of the company popped more than 3 percent after the report.

"The Microsoft Cloud is seeing significant customer momentum and we're well-positioned to reach new opportunities in the year ahead," CEO Satya Nadella said in a release.

Azure, Microsoft's major cloud offering, saw revenue grow 102 percent in the quarter, the company said.



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