It's been two and a half years since we let Genee out of the bottle. In our drive to deliver large productivity gains through intelligent scheduling coordination and optimization, we often found ourselves on the forefront of technology involving natural language processing, artificial intelligence (AI), and chat bots. We were extremely fortunate to find many who believed in the vision and supported us with their resources, talent, time, and advice along the way, which made Genee possible. Today, we are pleased to announce that Genee has signed an agreement to be acquired by Microsoft. A new beginning means the end of another.
Perhaps the biggest surprise from Microsoft's third quarter earnings: Its Surface business is still going strong with nearly $1.1 billion in revenue. That's up 32 percent from last year, when sales dipped to $831 million. By this time last year, the Surface Laptop and Pro hadn't launched yet, which didn't leave much fresh hardware for consumers to pick up. Unsurprisingly, the company's cloud business is still ballooning -- it's now up another 17 percent from last year. Overall, Microsoft reported revenues of $26.8 billion (up 16 percent), with a net income of $7.4 billion (a 35 percent increase).
To learn more and subscribe, please click here. Microsoft and Alphabet's Q3 2017 earnings calls highlighted that artificial intelligence (AI) and the cloud are not only major catalysts of growth for the tech giants, but also centerpieces of their long-term strategies. While Alphabet's overall revenue grew 24% year-over-year (YoY) to reach $27.8 billion in the quarter, the company's "Other Revenues" segment -- which lumps together everything from its Pixel smartphone and hardware products to its cloud computing and storage offerings -- generated $3.4 billion, a 12% share of total revenue. And Microsoft reported revenue of $24.5 billion, up 12% YoY, with 28% coming from its Intelligent Cloud segment. Here's how Alphabet and Microsoft are doubling down on AI and the cloud in the near term: Alphabet and Microsoft will face stiff competition from Amazon as their AI and cloud pushes continue.