Microsoft (
MSFT) has exceeded Wall Street's expectations for its fiscal third-quarter earnings. CEO Satya Nadella attributed the strong performance to the ongoing success of Microsoft Cloud, which generated over $35 billion in revenue, marking a 23% increase from the previous year.
Nadella highlighted the transformative impact of Microsoft Copilot and Copilot stack on AI advancements, driving improved business outcomes across various industries. Earnings per share rose to $2.94, surpassing analysts' consensus of $2.82, while revenue reached $61.86 billion, ahead of expectations.
Azure, Microsoft's cloud computing platform, continued to gain market share, with customers leveraging its capabilities to develop AI solutions. Nadella noted the company's wide array of AI accelerators, including partnerships with Nvidia and Advanced Micro Devices, alongsi ...
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