Redmond-based company exceeded analysts’ estimates, driven by its cloud computing and Office software businesses
Microsoft Corp beat Wall Street’s quarterly revenue and profit estimates on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales.The company forecast that revenue in its main segments for the current quarter would match or top Wall Street targets.
Revenue rose 7% to $52.9bn in the quarter ended March, inching past the average analyst estimate of $51.02bn, according to Refinitiv. The bulk of Microsoft sales still come from selling software and cloud computing services to customers.creator OpenAI and sprucing up the Bing search engine with artificial intelligence technology.
Bing, long an also-ran to search engine Google, has 100 million daily users and has seen downloads jump since the addition of AI features, Nadella said.
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