Microsoft’s Azure cloud revenue surges as AI spending pays off

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Microsoft’s Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street’s expectations and showcasing the growing returns on its massive artificial intelligence bets.

Shares of the software company rose more than 6% in extended trading after it said Azure sales surpassed $75 billion on an annual basis, the first time it has disclosed that figure. That beat expectations for $74.62 billion.

The business still trails market leader Amazon Web Services , which had an earlier start in cloud…



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Microsoft’s Azure cloud revenue surges as AI spending pays off



Microsoft’s Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street’s expectations and showcasing the growing returns on its massive artificial intelligence bets.

Shares of the software company rose more than 6% in extended trading after it said Azure sales surpassed $75 billion on an annual basis, the first time it has disclosed that figure. That beat expectations for $74.62 billion.

The business still trails market leader Amazon Web Services , which had an earlier start in cloud…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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