Microsoft Sales, Profit Beat Expectations on AI Demand
- Azure cloud revenue gained 31% in quarter, beating estimates
- ‘Microsoft appears to be in an excellent position to thrive’
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Microsoft Corp.’s quarterly sales and profit climbed more than projected, lifted by corporate demand for the software maker’s cloud and artificial intelligence offerings.
Revenue in the third quarter, which ended March 31, rose 17% to $61.9 billion, while profit was $2.94 a share, the company said in a statement Thursday. Analysts on average estimated per-share earnings of $2.83 on sales of $60.9 billion. The shares jumped in late trading.