Microsoft posted strong growth in revenue and earnings for its fiscal third quarter, with the company’s closely watched cloud business solidly beating Wall Street’s forecasts. Microsoft’s share price has risen less than 2% over the past 12 months—badly lagging behind all its megacap tech peers save for Google-parent Alphabet which has lost two federal antitrust lawsuits in that time. Investors are still awaiting the company’s forecast for the June-ending quarter, which is expected on a conference call later in the day, and indicatations of how Microsoft sees President Trump’s tariffs affecting its business.