Riding on its Cloud and the new AI business, Microsoft has reported $52.9 billion in sales, up 7 per cent with net income at $18.3 billion, which increased 9 per cent (year-on-year) in its quarter ended March 31.
Microsoft-backed OpenAI's ChatGPT has become a rage worldwide, which has the capabilities to transform many industries.
"The world's most advanced AI models are coming together with the world's most universal user interface -- natural language -- to create a new era of computing," said Satya Nadella, chairman and CEO, Microsoft.
"Across the Microsoft Cloud, we are the platform of choice to help customers get the most value out of their digital spend and innovate for this next generation of AI," he said in a statement late on Tuesday.
Microsoft Cloud reported revenue of $28.5 billion, up 22 per cent year-over-year, said the company.
Revenue in Productivity and Business Processes was $17.5 billion and increased 11 per cent, while LinkedIn revenue increased 8 per cent.
LinkedIn market grows 19% YoY in India with over 100 mn members: Nadella
India's Ambassador to US Taranjit Singh Sandhu meets Microsoft CEO Nadella
Microsoft logs slowest quarter growth in 6 years, PC sales nosedive
Microsoft introduces its new 'Canary Channel' for Windows Insiders
Microsoft introduces new AI-powered Bing search engine, Edge browser
Ukraine sets up tech cluster to boost military capability with drones
YouTube's revenue falls as ads slow down for 3rd quarter in a row
Ageing Biden makes Kamala Harris matter much more in US prez polls 2024
Singer, actor, activist Harry Belafonte dies at age 96 in New York
Pentagon leaks suggest China developing ways to attack satellites
However, sales in the 'More Personal Computing' segment was $13.3 billion and decreased 9 per cent and Windows OEM revenue decreased 28 per cent.
Microsoft returned $9.7 billion to shareholders in the form of share repurchases and dividends in the third quarter of fiscal year 2023.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)