Resilient demand for cloud computing and growing excitement about artificial intelligence drove record quarterly revenues for Microsoft in the final three months of 2023.
Revenue at Microsoft’s closely watched cloud division, its biggest sales driver that includes its Azure cloud computing platform, rose 20 per cent to $25.9bn, ahead of analysts’ expectations for $25.3bn, with sales growth for the unit reaching 30 per cent.
Total revenue climbed 18 per cent to a record $62bn, ahead of forecasts for $61.1bn. Earnings per share of $2.93 were well ahead of analysts’ forecasts for $2.77.
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