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Microsoft reports strong quarterly revenue rise, driven by robust cloud and AI services growth.
Microsoft reported a 13% rise in quarterly revenue to $70.1 billion, driven by strong growth in cloud and AI services.
The company's cloud revenue reached $42.4 billion, up 20% year-over-year, and Azure saw a 33% increase.
Microsoft's Intelligent Cloud segment showed a 21% revenue increase, while its Productivity and Business Processes division, including Office 365 and LinkedIn, grew 10% to $29.9 billion.
Despite economic uncertainties, the company's stock rose over 6% in after-hours trading.
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