Microsoft earnings jumped 17% on cloud boost, AI 

Other Microsoft products like Office, for commercial and consumer, LinkedIn, Intelligent Cloud, Windows, and Xbox content and services added to the rise in earnings.

Microsoft’s revenue rose 17% to $61.9 billion for the March ending quarter on its cloud boost, some significant deals for the platform, and the wide selection of AI accelerators it offered. Earnings per share was $2.94, representing a rise of 20%

“The number of 100 million dollar-plus Azure deals increased over 80% year-over-year, while the number of 10 million dollar-plus deals more than doubled,” CEO Satya Nadella said.

Other prominent products like Office, for commercial and consumer, LinkedIn, Intelligent Cloud, Windows, and Xbox content and services added to the rise in earnings.

But the company’s devices unit reported a decline in revenue by 17%.

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Nadella echoed Nvidia CEO Jensen Huang’s earlier prediction that AI would change the way the world approached programming.

“Anyone can be a developer with new AI-powered features across our low-code/no-code tools, which make it easier to build an app, automate workflows, or create a copilot using natural language,” he said, adding, “Nearly 60% of the Fortune 500 now use Copilot, and we’ve seen accelerated adoption across industries and geographies, with companies like Amgen, BP, Cognizant, Koch Industries, Moody’s, Novo Nordisk, NVIDIA, and Tech Mahindra purchasing over 10,000 seats.”