Microsoft tops Wall Street expectations, reports accelerating Azure growth and $37B AI run rate
Microsoft reported an 18% revenue rise to $82.9 billion and a 40% growth in Azure cloud business, beating Wall Street expectations. The company's AI business reached an annual revenue run rate of $37 billion, up 123% from a year ago.
Microsoft's Azure cloud business grew 40% in the March quarter, exceeding the company's forecast. Revenue rose 18% to $82.9 billion, beating the $81.4 billion analyst consensus. Earnings per share jumped 23% to $4.27, above the $4.06 expected by Wall Street. Microsoft's AI business has reached an annual revenue run rate of $37 billion, up 123% from a year ago. Capital spending decreased to $30.9 billion from $37.5 billion the previous quarter. The company's shares were down more than 3% in after-hours trading.
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