Microsoft’s cloud business powers 10% growth in quarterly profits

2024-12-24 20:25:38 source:lotradecoin roadmap category:My

REDMOND, Wash. (AP) — Microsoft reported a 10% increase in quarterly profits Tuesday as it tries to maintain its position as a leader in artificial intelligence technology.

The software giant said its fiscal fourth-quarter profit was $22 billion, or $2.95 per share, slightly beating analyst expectations for $2.94 per share.

It posted revenue of $64.7 billion in the April-June period, up 15% from last year. Analysts polled by FactSet Research had been looking for revenue of $64.38 billion.

Microsoft’s growth was led by its cloud computing business, where quarterly revenue rose 19% to $28.5 billion.

The Redmond, Washington-based company doesn’t report revenue specifically from AI products but says it tries to infuse the technology into all of its business segments, including its cloud computing contracts, its workplace software and its Windows computer operating system.

More:My

Recommend

The Sundance Film Festival unveils its lineup including Jennifer Lopez, Questlove and more

Next year’s Sundance Film Festivalwill feature Jennifer Lopezsinging and dancing in Bill Condon’s “K

Justice Department blasts GOP effort to hold Attorney General Garland in contempt over Biden audio

WASHINGTON (AP) — The Justice Department on Monday blasted Republicans’ effort to hold Attorney Gene

Defending champ UConn returns to NCAA title game, beating Alabama 86-72

The UConn Huskies will return for their second consecutive national championship title after survivi