Microsoft Corp. (NASDAQ: MSFT) on Tuesday reported financial results for the first quarter of 2024. The tech giant’s cloud business continued to expand during the period.
The company reported first-quarter revenues of $56.5 billion, compared to $50.1 billion in the same period of 2023. Net profit came in at $22.3 billion or $2.99 per share in the September quarter, vs. $17.56 billion or $2.35 per share in the comparable period of the previous year.
“With copilots, we are making the age of AI real for people and businesses everywhere. We are rapidly infusing AI across every layer of the tech stack and for every role and business process to drive productivity gains for our customers,” said Microsoft’s CEO Satya Nadella.