Microsoft’s total revenue rose 17 percent year over year in the quarter that ended March 31, according to a statement. Net income of $21.94 billion, or $2.94 per share, was up from $18.30 billion, or $2.45 per share, in the previous quarter.
The company’s Intelligent Cloud segment, which includes the public cloud Azure, Windows Server, Nuance and GitHub, produced revenue of $26.71 billion. That represents an increase of about 21% and more than the consensus of $26.26 billion among analysts surveyed by StreetAccount.
Revenue from Azure and other cloud services rose 31%, up from 30% in the previous quarter. Analysts polled by CNBC had expected 28.8%, while the StreetAccount consensus was 28.6%.
Within Azure growth, 7 percentage points were related to artificial intelligence, compared to 6 impact points in the previous quarter. Microsoft provides cloud services for the ChatGPT chatbot from the OpenAI startup, and companies have increasingly adopted Azure AI services to develop their own information summarization and document authoring capabilities.
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Tags: Microsofts revenue exploded driven strong growth Cloud
