Microsoft on Thursday said its profit rose 20% for the January-March quarter as it tries to position itself as a leader in applying artificial intelligence technology to make workplaces more productive.
The company reported quarterly net income of $21.93 billion, or $2.94 per share, beating Wall Street expectations for earnings of $2.82 a share.
The Redmond, Washington-based software maker posted revenue of $61.86 billion in the period, its third fiscal quarter, up 17% from the same period a year ago. Analysts polled by FactSet expected Microsoft to post revenue of $60.86 billion for the quarter.
Microsoft doesn’t spell out how much money it makes from AI products, including its flagship Copilot chatbot that can compose documents, write code or generate images. But it has infused the technology into its main lines of business, such as cloud computing contracts and subscriptions for its email and other online services.
Related articles:
Related suggestion:
Watch live: Labour leader Chris Hipkins speaks from PolyfestLauren Sanchez turns heads with figureAuckland Transport to be stripped of planning powersOle Gunnar Solskjaer is cut from 80/1 to ODDSThere's the Wallys! Darts fans brawl in the crowdTaylor Swift 'turned down $9MILLION offer to perform private concert in the United Arab Emirates'Football's ultimate bigTravis Kelce hilariously ripped for his old tweets at New Heights liveBridgerton fans are all saying the same thing about season 3's costumes as new trailer dropsSarah Everard's killer Wayne Couzens should never have been police officer
2.6524s , 6497.265625 kb
Copyright © 2024 Powered by Microsoft quarterly profit rises 20% as tech giant pushes to get customers using AI products ,Global Genesis news portal