Companies

Microsoft sales and profit beat expectations on AI demand

Revenue in the third quarter, to March 31, rose 17 per cent to $61.9 billion

Microsoft’s shares gained about 5 per cent in late trading after announcing its latest sales and profit figures

Microsoft quarterly sales and profit climbed more than projected, lifted by corporate demand for the software maker’s cloud and artificial intelligence offerings.

Revenue in the third quarter, which ended March 31, rose 17 per cent to $61.9 billion, while profit was $2.94 a share, the company said in a statement. Analysts on average estimated per-share earnings of $2.83 on sales of $60.9 billion. The shares jumped in late trading.

Satya Nadella, its chief executive officer, ...