AI and cloud growth fuel first quarter revenue boost for Microsoft

AI and cloud-fueled growth has seen Microsoft post a double-digit revenue increase during the first quarter of its 2024 financial year, despite the ongoing weakness with PC sales.

For the quarter ending September 30, Microsoft generated a net income of $22.3 billion, an increase of 27%. It also reported a 13% increase in overall revenue at $56.5 billion.

Ever since Microsoft-backed OpenAI brought ChatGPT into the general consciousness late last year, Microsoft has gone all in on its own AI strategy, with its flagship Copilot tool about to be rolled out across the company’s entire product portfolio.

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