Microsoft Smashes June-Quarter Targets On AI, Cloud Strength

Microsoft Corp. reported fiscal fourth-quarter results that beat analyst estimates, driven by strength in its cloud and artificial intelligence businesses. The company's Azure cloud unit grew 29% year-over-year, and Microsoft said AI services contributed 7 percentage points to that growth. Revenue rose 15% to $64.7 billion, with net income up 10% to $22 billion, or $2.95 per share, exceeding the $2.94 expected by analysts.

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