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.
Google plans to invest $2 billion to build data center in northeast Indiana, officials say
US probes whether Tesla Autopilot recall did enough to make sure drivers pay attention
Jerry Seinfeld's commitment to the bit
Defending champion Sabalenka advances at Madrid Open with a 3
A man accused in a Harvard bomb threat and extortion plot is sentenced to 3 years probation
Chicago appeals court rejects R. Kelly 's challenge of 20
Jayhawks sign Alabama's Rylan Griffen out of portal to address their 3
Jayhawks sign Alabama's Rylan Griffen out of portal to address their 3
Joel Embiid has Bell's palsy: What to know about the condition
Body identified as missing man in case that drew attention because officer was charged
Joel Embiid has Bell's palsy: What to know about the condition
Jurgen Klopp says Arne Slot would take on the 'best job in the world' at Liverpool