Microsoft, headquartered in Redmond, Washington, announced a 10% rise in quarterly profits as it strives to maintain its position as a leader in artificial intelligence technology. The tech company disclosed that its fiscal fourth-quarter profit reached $22 billion, translating to $2.95 per share, slightly exceeding the $2.94 per share anticipated by analysts. Revenue for the April-June period totaled $64.7 billion, marking a 15% increase from the previous year, surpassing analysts’ expectations of $64.38 billion, as per FactSet Research.
A key driver of Microsoft’s growth was its cloud computing division, which experienced a 19% increase in quarterly revenue, reaching $28.5 billion.
