Economic Insights – Baghdad
Microsoft experienced a 10% increase in profits for the quarter spanning October to December, compared to the same timeframe last year. This growth comes as the company capitalizes on the substantial investments made in developing its artificial intelligence technologies, as detailed in the latest corporate statement.
Despite exceeding overall profit and revenue expectations from financial analysts, Microsoft’s performance in the cloud computing sector—an area critical to its AI initiatives—fell short of forecasts.
The company’s net income for the quarter reached $24.1 billion, translating to earnings of $3.23 per share. This figure surpassed the projected earnings of $3.11 per share established by market analysts.
Additionally, Microsoft reported quarterly revenues totaling $69.6 billion, marking a 12% increase from the previous year and exceeding analyst expectations.
According to a survey conducted by Facttist Research, analysts had anticipated Microsoft would generate revenues of approximately $68.87 billion over the last three months of the year. Expectations are now set for revenues of $69.81 billion for the upcoming quarter of January to March.
In the specific realm of cloud services, Microsoft reported a year-over-year growth of 19%, reaching $25.5 billion, although this also fell below expectations, which suggested revenues of $25.83 billion.
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