The American tech group Microsoft benefited from strong growth in cloud computing and its artificial intelligence (AI) activities in the past quarter. Net profit increased by 11 percent to 24.7 billion dollars (almost 23 billion euros), it was announced on Wednesday.
Sales rose 16 percent to $65.6 billion, above market experts’ expectations. “The AI-driven transformation is transforming work and workflows across every role, function and business process,” said Microsoft CEO Satya Nadella.
Microsoft is working with OpenAI, the company behind chatbot ChatGPT. The tech group has integrated much of its AI-based technology into its products.
Microsoft’s cloud services also showed further growth. Sales of Microsoft’s cloud platform Azure grew by 34 percent.
READ ALSO. Google parent Alphabet exceeds expectations thanks to cloud services
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