Key Points
Microsoft (NASDAQ: MSFT) shares increased on Thursday following the company’s announcement to provide detailed revenue figures for its Azure cloud computing business. Azure reported a 42% year-over-year revenue surge, reaching $29.4 billion in its latest quarter, placing it behind Amazon Web Services (AWS), which grew by 37% to $42.2 billion.
Driven by rising artificial intelligence usage, Microsoft anticipates Azure’s revenue to grow by 44% to 45% in constant currency for the current quarter.
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