Todd Bishop
2024-10-30 16:16:00
www.geekwire.com
Microsoft beat Wall Street’s expectations across its key financial metrics for its first quarter of fiscal 2025, as artificial intelligence contributed 12 percentage points, a new high, to a 33% increase in the company’s Azure cloud revenue.
The company overall posted revenue of $65.6 billion, up 16%, vs. analyst expectations of $64.5 billion; profits of $24.7 billion, up 11%; and earnings per share of $3.30, compared to the Wall Street consensus of $3.08 per share.
“We are expanding our opportunity and winning new customers as we help them apply our AI platforms and tools to drive new growth and operating leverage,” Microsoft CEO Satya Nadella said in the company’s earnings release.
Developing story, more to come.
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