Page 22 - Intelligent Cloud News Today

Revenue and net income increase by 13% and 27% respectively, driven by robust cloud performance

Microsoft's revenue rose 13 per cent to $56.5 billion in the quarter ended Sept. 30, while Google Cloud's third-quarter revenue rose 22.5 per cent to $8.41 billion.

Microsoft has released its earnings report for Quarter 1 of Fiscal Year 2024, showing a 13% increase in overall revenue year-over-year.

(Reuters) -Microsoft on Tuesday beat Wall Street estimates for fiscal first-quarter results in all segments, with its cloud computing and PC businesses growing as customers anticipate using its artificial-intelligence offerings. Microsoft, which has heavily backed and collaborated with OpenAI, has yet to roll out most of the products based on its work with the ChatGPT creator. Microsoft shares were up 3% in after-hours trading.

The two tech giants have reported more overall revenue in the latest quarter than expected by analysts - although growth at Googles cloud computing division slowed and did less well than forecast.

(Reuters) -Google-parent Alphabet's cloud business crawled to its slowest in at least 11 quarters, sending the company's stock down 5.7% after hours, even as sales at rival Microsoft's cloud unit boomed. The drop in Google’s share price despite beating Wall Street estimates for profit and sales, shows how much investors want the company to deliver gains in artificial intelligence, and show the cloud business remains competitive against a more powerful Azure from Microsoft ...

Microsoft (MSFT) won the battle of the mega-caps late Tuesday as it and Alphabet (GOOGL) both posted their earnings results for the most recent quarte

Google-parent Alphabets cloud business crawled to its slowest in at least 11 quarters, sending the companys stock down 5.7% after hours, even as sales at rival Microsofts cloud unit boomed. ...

SAN FRANCISCO, Oct. 24 (Xinhua) -- Microsoft on Tuesday posted its revenue of 56.5 billion U.S. dollars in the first quarter of the fiscal year 2024 ending Sept. 30, 2023, which went up 13 percent from the same period of the previous year.

Shares of Google-parent Alphabet are slumping after the company reported disappointing cloud revenue, while competitor Microsofts stock popped as it beat expectations.