Microsoft CEO Satya Nadella announced impressive earnings, highlighting a profit of $27.2 billion on $76.4 billion in revenue, driven primarily by cloud computing and artificial intelligence (AI) sectors. The Intelligent Cloud business generated $29.9 billion, while Azure saw a 34% growth, totaling over $75 billion for the fiscal year ending June 30. Nadella emphasized that AI and cloud technology are pivotal for business transformation across various industries. Following the earnings release, Microsoft shares surged approximately 7%. Analysts, including Wedbush’s Dan Ives, noted the company’s strategic positioning in the ongoing AI revolution, which began with its investment in AI infrastructure following the launch of ChatGPT in 2022. Additionally, Microsoft announced recent workforce reductions to streamline management and better adapt to a dynamic market. The company remains committed to leveraging AI to empower employees and enhance productivity across its product offerings, positioning itself for future success.
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