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Microsoft beats revenue expectations with AI adoption in cloud services. Stock jumps 4%. Forecasted cloud revenue above Wall Street. Microsoft's value increased by $128 billion. Azure revenue exceeded estimates.
Microsoft beats revenue expectations with AI adoption in cloud services. Stock jumps 4%. Forecasted cloud revenue above Wall Street. Microsoft's value increased by $128 billion. Azure revenue exceeded estimates.
Microsoft outpaced expectations for its third-quarter revenue and profit, unveiled on Thursday. This success was largely fueled by the integration of artificial intelligence (AI) across its cloud services, propelling its shares to surge by more than 4 per cent during extended trading.
Xbox hardware revenue is expected to fall again in Q4.
Five big tech companies announced their quarterly financial results on Thursday with a jump in fortunes for Microsoft, Google and Snap, while those of IBM and Intel were more mixed.