Microsoft posts $20.1 bn quarterly profit as it promises to lead 'AI shift'

Microsoft on Tuesday reported fiscal fourth-quarter profit of $20.1 billion, or $2.69 per share, beating analyst expectations for $2.55 per share. It posted revenue of $56.2 billion in the April-June period, up 8 per cent from last year. Analysts had been looking for revenue of $55.49 billion, according to FactSet Research. CEO Satya Nadella said the company remains focused on leading the new AI platform shift. Organizations are asking not only how but how fast they can apply this next generation of AI to address the biggest opportunities and challenges they face safely and responsibly, he said in a prepared statement. Microsoft was an early mover in this year's hype around generative AI tools that can help people write documents and create new images and other media. It capitalized on its multibillion dollar investments in ChatGPT-maker OpenAI to launch a chatbot for Microsoft's Bing search engine and similar tools tailored to its business customers. Macquarie analyst Sarah ..

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