Microsoft’s quarterly profits increased by 18% for the January-March quarter, driven by its cloud computing and artificial intelligence business, generating $70.1 billion in sales and surpassing Wall Street’s earnings expectations.
The big picture: The company’s quarterly net income stood at $25.8 billion, or $3.46 per share, outperforming analysts’ projections of $3.22 per share.
- Microsoft’s revenue reached $70.1 billion in the third fiscal quarter, marking a 13% increase from the same period a year ago and exceeding Wall Street’s revenue expectations, which were estimated at $68.44 billion.
Driving the news: The company’s stock price had dropped by nearly 8% since the inauguration of President Donald Trump but saw a more than 6% increase in after-hours trading following the release of the earnings report.
- Microsoft’s cloud computing business segment experienced a 21% growth, reaching $26.8 billion in revenue, which surpassed Wall Street projections, while the personal computing business, centered around the Windows operating system, faced tariff uncertainty, generating $13.4 billion in revenue for the quarter, reflecting a 6% increase from the prior year.
