Microsoft reports revenues of more than $61 billion

Yesterday, Microsoft Corporation unveiled its third-quarter financial results, surpassing analysts’ forecasts fueled by robust corporate demand for its cloud and artificial intelligence services.

The tech giant reported earnings per share of approximately $2.94, exceeding the anticipated $2.82 per share. Similarly, Microsoft’s revenue climbed to $61.86 billion, surpassing expectations of around $60.80 billion.

The company’s total revenue saw a 17% year-on-year increase for the quarter ending March 31. Net income surged to $21.94 billion, or $2.94 per share, compared to $18.30 billion, or $2.45 per share, during the same period last year.

Microsoft highlighted the strong performance of its smart cloud segment, encompassing Azure, Windows Server, Nuance, and GitHub, which generated revenues of $26.71 billion, surpassing estimates of around $26.26 billion.

In pre-market trading on Friday, Microsoft shares surged by 3.67%, or $14.66 per share, approaching the $413.70 per share mark.