Revenue from Azure cloud business increased by 22% as company focuses attention on artificial intelligence
Microsoft reported better-than-expected earnings on Wednesday fueled by growth in its Azure cloud business, as five of the “Magnificent Seven” tech megacaps roll out quarterly earnings this week.
“AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process,” the company’s CEO, Satya Nadella, said in a press release. “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.”
All eyes were on Azure, Microsoft’s fastest-growing division that has received billions of dollars of investment as the company focuses attention on artificial intelligence. Revenue from the division increased by 22%, according to a press release. A day earlier, Google’s parent, Alphabet, reported that its cloud business grew nearly 35% from a year earlier to $11.
