Microsoft Q3 results: Profit up 9%, revenue at $52.9 billion

Microsoft on Tuesday reported a 9% enhance in revenue for the January-March quarter, as progress in cloud computing gross sales helped bolster its plans to develop its use of synthetic intelligence. The firm reported a quarterly revenue of $18.3 billion, or $2.45 per share, beating Wall Street expectations for earnings of $2.24.

The software program maker posted income of $52.9 billion in its third fiscal quarter, up 7% from the identical interval a yr in the past. Analysts polled by FactSet anticipated Microsoft to publish income of $51.02 billion for the quarter.

The quarter marked an bold push by Microsoft to capitalise on its investments in synthetic intelligence and partnership with San Francisco-based startup OpenAI with the February launch of a brand new AI chatbot function on its search engine Bing.