Cloud Growth Powers Microsoft Above Expectations

Microsoft on Tuesday reported strong sales in its latest quarter, showing that its corporate customers have been shaking off jitters about spending heavily in the uncertain economy. The results also showed early signs that the company's investments in generative artificial intelligence were beginning to bolster sales, most notably reversing what had been slowing growth of the company's important cloud computing product. The company had $56.5 billion in sales in the three months that ended in September, up 13 percent from a year earlier. Profit hit $22.3 billion, up 27 percent. The results beat analyst expectations and Microsoft's own estimates.