Key facts
- Microsoft's quarterly revenue of $92.3 billion exceeded analyst expectations of $90.6 billion.
- Azure cloud computing division grew by 48% in the September quarter.
- The company reported more than $36.6 billion in profit.
- Microsoft offered voluntary buyouts to approximately 60,000 employees.
Microsoft's stock gained value Wednesday afternoon after reporting better-than-expected quarterly revenue and profit, driven largely by its Azure cloud computing division. The tech giant announced $92.3 billion in revenue and over $36.6 billion in profit, surpassing analyst estimates. This strong financial performance comes shortly after Microsoft offered voluntary buyouts to around 60,000 employees, signaling a significant investment in artificial intelligence initiatives. The company also recently launched a new Surface Ultra laptop featuring Nvidia's AI chips, part of a broader industry trend towards on-device AI computing.