Investing

“We’re starting to see the recovery in demand in IT spend. We see signs of stabilization in the core business.”

Quarterly revenue report topped analysts' estimates bolstered primarily by continued strong demand for personal computers.

Reporting earnings, its CFO said most of the growth this quarter will come from gaming, creating concern that that spells slower growth for the data center division.

The combined company is slated to be worth about $2 billion and a deal is set to be announced in coming weeks.

AWS, Google and Microsoft are all still growing their cloud revenues, though for Google that growth is coming with some high costs.

Investors include Texas, Virginia, and Orange County employee and teacher retirement systems.

The company's CFO says the $1.2 billion loss is necessary, as it invests "ahead of revenue" in products and data centers.