Microsoft Corp., the giant American software and technology company, announced strong quarterly results yesterday evening, driven by continued momentum in its cloud computing and artificial intelligence sectors.
The company’s revenue increased by 18 percent to $82.9 billion during the third quarter of its fiscal year, while net income rose to $31.78 billion, compared to $25.82 billion during the same period last fiscal year.
Revenue from Microsoft Cloud, its cloud computing business, reached $54.5 billion during the three months ending March 31, a 29 percent year-over-year increase, fueled by rising demand for its cloud platforms.
Revenue from Azure and other cloud services increased by 40 percent, while revenue from Intelligent Cloud rose by 30 percent to $34.7 billion. Revenue from the Productivity and Business Processing segment, which includes Microsoft 365 and LinkedIn, increased by 17 percent to $35 billion, driven by growth in Microsoft 365 and Dynamics 365. Conversely, revenue from the Personal Computing segment, which includes Windows, gaming, and hardware manufacturing, declined by 1 percent to $13.2 billion.
Microsoft Chairman and CEO Satya Nadella stated, “We are focused on providing the infrastructure and solutions for cloud computing and artificial intelligence, enabling every business to evaluate and maximize its results in the era of intelligent computing… Our AI business revenue has exceeded $37 billion annually, representing a 123 percent year-over-year increase.”
