By Fatma Younis
Microsoft reported a quarterly profit of $36.6bn for the three months ended September, with revenue rising to $92.3bn driven by strong growth in its cloud computing business. Shares climbed nearly 2.9% in after-hours trading in New York following the announcement.
The earnings come days after the company said it would offer voluntary buyouts to around 60,000 employees — roughly one quarter of its workforce — as it seeks to reduce costs while pouring billions into artificial intelligence infrastructure.
Chairman and chief executive Satya Nadella said Microsoft is delivering greater capability, choice, control and cost efficiency across its entire stack, helping organisations build and own their own intelligence while earning trust through agent safety and security.
Investors are closely watching the recent financial results of major technology firms to assess whether the heavy spending on AI will prove sustainable over the long term.
