Microsoft profit climbs as cloud grows

Microsoft on Thursday said its revenue and profit climbed in the recently ended quarter as its bets on cloud computing services and artificial intelligence helped lift earnings.

The US tech giant reported its net income increased 10 percent to $8.8 billion on revenue that was up 17 percent to $30.1 billion when compared with the same period last year.

Microsoft saw revenue gains across its full range of businesses including business services, gaming, internet search ads and its consumer software including Windows and Office.

Shares edged up 0.6 percent in after-hours trade following the results for the final fiscal year quarter for the Microsoft.

"We had an incredible year," chief executive Satya Nadella said in a release.

"Our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation."

 

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