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Good morning from the Financial Times.
Today is Thursday, May 1st, and this is your FT News Briefing.
Microsoft showed up Wall Street yesterday,
and Spain is still trying to figure out what caused this week's massive blackout.
Plus, the American economy contracted in the first quarter, but that's not the whole story.
I'm Mark Filippino, and here's the news you need to start your day.
Microsoft's first quarter earnings beat analyst expectations.
The tech giant yesterday said its cloud division increased revenue 20% from a year ago.
That's thanks to continued demand from artificial intelligence.
Investors were happy with the better than expected news.
Microsoft shares jumped as much as 6% in after hours trading.
The U.S. economy contracted last quarter by a third of a percent.