Microsoft cloud growth accelerates on back of AI push
Microsoft cloud growth accelerates on back of AI push
Apr 25, 2024 by CNBC
Key Facts
- Here’s how the company did in comparison with the consensus from LSEG: Earnings per share: $2.94 vs. $2.82 expected Revenue: $61.86 vs. $60.80 billion expected Microsoft’s total revenue grew 17% year over year in the quarter, which ended on March 31, according to a statement.
- Revenue from Xbox content and services was up 62%, thanks to a bump from the $75 billion acquisition in October of game publisher Activision Blizzard, including its popular Call of Duty titles.
- The company started selling access to the Copilot for small businesses with Microsoft 365 productivity software subscriptions and hired Mustafa Suleyman, co-founder of artificial intelligence lab DeepMind, to run a new Microsoft AI group.
- “We have been operating with speed and intensity and this infusion of new talent will enable us to accelerate our pace yet again,” Nadella wrote in a memo about the Inflection deal, which was reportedly worth $650 million.
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