Microsoft's Activision acquisition and bets on AI yield high quarterly revenue

Microsoft beat analyst expectations Tuesday as its heavy bets on artificial intelligence bore fruit, particularly for its Azure cloud computing unit. The software giant reported revenue of 62bn, up 18% year-over-year, surpassing anticipated earnings of 61.1bn. CEO Satya Nadella said: "We've moved from talking about AI to applying AI at scale. By infusing AI across every layer of our tech stack, we're winning new customers and helping drive new benefits and productivity gains across every sector." Microsoft Cloud revenue rose 24% year-over-year.