Riding on its Cloud and the new AI business, Microsoft has reported $52.9 billion in sales, up 7 percent with net income at $18.3 billion, which increased 9 percent (year-on-year) in its quarter that ended March 31.
Microsoft-backed OpenAI’s ChatGPT has become a rage worldwide and has the capability 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, of 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 percent year-over-year, said the company.
Revenue in Productivity and Business Processes was $17.5 billion and increased by 11 percent, while LinkedIn revenue increased by 8 percent.
However, sales in the ‘More Personal Computing’ segment were $13.3 billion and decreased by 9 percent and Windows OEM revenue decreased 28 percent.
Microsoft returned $9.7 billion to shareholders in the form of share repurchases and dividends in the third quarter of fiscal year 2023.
