Microsoft's AI products, developed in collaboration with OpenAI, are stimulating sales and contributing to growth, according to Jesse Cohen, senior analyst at Investing.com. The company's Copilot tool, which summarises a day's worth of emails into a quick update, is also generating interest. Microsoft has forecast a growth rate of 26-27% for Azure and revenue forecast of $25.1-25.4 billion for the cloud segment, both surpassing analysts' expectations.
Key takeaways:
- Microsoft recorded a 13 percent rise in revenues to $56.5 billion in Q3, beating analysts' estimates of $54.52 billion.
- The company's Intelligent Cloud unit recorded revenues of $24.3 billion, with Azure platform's revenue rising by 29 percent.
- Microsoft's AI products, in collaboration with OpenAI, are stimulating sales and contributing to top and bottom-line growth.
- The company has forecast a growth rate of 26-27 percent for Azure and revenue forecast of $25.1-25.4 billion for the cloud segment, both beating analysts' expectations.