Microsoft reports higher profits, revenue powered by cloud computing, AI investments

SunStar Publishing Inc.

REDMOND, Wash. — Microsoft on Tuesday reported a 27 percent increase in profit for the July-September quarter compared to the same time last year, powered by growth in its cloud computing division where it has centered its investments in artificial intelligence.The company reported quarterly net income of $22.29 billion, or $2.99 per share, which beat Wall Street expectations.The Redmond, Washington-based software maker posted revenue of $56.

Microsoft’s cloud-focused business segment experienced the most growth, up 19 percent from the same time last year to $24.26 billion for the three months ending Sept. 30.Its productivity business segment, which includes its Office suite of email and other workplace products, grew 13 percent to $18.59 billion for the quarter.Its personal computing business, led by its Windows division, grew three percent to $13.67 billion.

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