Microsoft seems to be building up huge profits will the increase in the usage of cloud computing. On Thursday, Microsoft declared that its revenue increase in the quarter and more gain was made because of growth in cloud computing services and artificial intelligence. The technology hub based in the United States of America witnessed an increase of ten percent on its net income, which was $8.8 billion and 17% on the revenue which means collectively on gaming, services, internet search ads, software, etc. the company did much better as compared to the previous year. Linkedin and Ms. Office encompassing the professional world along with the cloud services gave the most for it.
The shares of the company saw a three percent increase after a couple of hours of releasing the report of the quarter of this fiscal year. The CEO of the company said in the press release that the year was incredible for the company. He also mentioned that early investments in the cloud services, as well as artificial intelligence, paid them back and the company would continue to work and progress in the same direction. “We will continue to expand our reach in large and growing markets with differentiated innovation” he added. They are optimistic towards a similar growth in the coming quarter and have a vision of increased computing services and stability of Microsoft in the market.
They are building a new world’s computer brand called AZURE. This will be a computing platform which will compete with the services offered by Google and Amazon. The company will expand its presence in fifty-four new regions, which is higher than any other cloud provider. The trend of artificial intelligence and cloud computing is promising, and thus the company will continue to invest in this direction.
A net income of $16.6 billion has been reported by Microsoft which is fourteen percent more than last year’s $110.4 billion. The financial analyst Patrick Moorhead has anticipated a healthy growth. Earlier this year, Microsoft and Walmart joined hands to give a competition to Amazon. Walmart chose Azure to accelerate its digital presence along with companies like General Electric, Starbucks, Bayer, Spain’s Telefonica. Microsoft 365 has become a multi-billion dollar venture and may acquire GitHub by the end of this year. GitHub was created in 2008 and is software with more than 28 million users across the globe.