Microsoft posted better than expected quarterly earnings on Wednesday, as its cloud division reported robust sales growth on strong demand from artificial intelligence-related services, calming fears of a slowdown.
Revenue rose 13 per cent in the quarter to the end of March from the same period in the previous year to $70.1bn. Net income increased 18 per cent to $25.8bn. Both figures exceeded the average estimate in an S&P Visible Alpha survey.
Microsoft shares jumped as much as 9 per cent in after-hours trading in New York, adding about $260bn in market value. The shares had fallen by 6 per cent since the end of 2024 as investors weighed the impact of US President Donald Trump’s tariffs on global supply chains and American economic growth.
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