Jan 25 (Reuters) - Microsoft Corp exceeded analysts' expectations for second-quarter revenue on Tuesday, propelled by strong demand for its cloud-based services from more businesses migrating to hybrid work models due to the pandemic.

The company said revenue rose to $51.73 billion in the three months ended Dec. 31, from $43.08 billion a year earlier.

Analysts on average had expected revenue of $50.88 billion, according to Refinitiv data.

Earlier this month, Microsoft agreed to buy "Call of Duty" maker Activision Blizzard for $68.7 billion in its biggest-ever deal as part of a deeper push into gaming and a bet on building the so-called virtual world of "metaverse".

(Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)