WASHINGTON: Microsoft announced on Tuesday its profits rose in the latest quarter, boosted by its strength in the cloud services segment, Western media reported.
The firm exceeded expectations to report a net revenue of more than $22.3 billion for the July to September period, up 27 % from a year ago. All eyes have been on Microsoft’s artificial intelligence (AI) and cloud computing performance, and main aspect is the Azure cloud service, which competes with Google Cloud and Amazon’s AWS.
Microsoft Revenues Beat Expectations: Report
In the latest quarter, income growth for Azure and other cloud services came in at twenty nine percent from a year ago, a somewhat faster pace than the 90 days prior.
Overall, the firm reported about $56.5 billion in sales for the quarter, also higher than expected.
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In a statement, Microsoft chief executive Satya Nadella said that they were rapidly infusing Artificial Intelligence across every layer of the tech stack and for every role and business process to drive output gains for their customers.
