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Microsoft reports 16 percent revenue surge in Q3 driven by cloud, AI
(MENAFN) Microsoft, US-based tech key, showed a 16 percent raise in its profits in the third quarter of 2024, as per stated by its financial results published Wednesday. The firms net profit reached USD65.6 billion from USD56.5 billion at same timing in the previous year.
According to the financial result statement, "Microsoft 365 Consumer products and cloud services revenue increased 5 percent, driven by Microsoft 365 Consumer cloud revenue growth of 6 percent,", adding that profit in the Intelligent Cloud segment was USD24.1 billion, indicating a raise of 20 percent.
"AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process," mentioned the chairman and CEO of Microsoft, Satya Nadella, adding "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 Cloud received profit of USD38.9 billion – up 22 percent on a yearly basis, said the executive vice premier and CFO, Amy Hood.
According to the financial result statement, "Microsoft 365 Consumer products and cloud services revenue increased 5 percent, driven by Microsoft 365 Consumer cloud revenue growth of 6 percent,", adding that profit in the Intelligent Cloud segment was USD24.1 billion, indicating a raise of 20 percent.
"AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process," mentioned the chairman and CEO of Microsoft, Satya Nadella, adding "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 Cloud received profit of USD38.9 billion – up 22 percent on a yearly basis, said the executive vice premier and CFO, Amy Hood.
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