Microsoft’s Intelligent Cloud Keeps Shining
By Aarti Dhapte , 02 June, 2023
Microsoft has joined other big tech companies in turning to layoffs to overcome the more challenging times. It announced cutting over 10,000 jobs and posted on fiscal second quarter earnings exceeding the Wall Street estimate.
According to the reports, Microsoft's solid financial results depend heavily on the cloud side of its business. Also, the most recent quarterly results are no exception. As per the reports, out of the total $52.9 billion recorded, 22.1 was from the 'Intelligent Cloud' segment. It is the highest figure of the third quarter so far, translating to $9.5 billion of operating income.
Microsoft’s Chairman and Chief Executive Officer, Satya Nadella commented – "The world's most advanced AI models are also coming together along with the world's most universal user interface that is the natural language which will create a new era of computing." He added that Microsoft Cloud is the platform of choice which help customers get the most value from their digital spending and innovate for the next generation of AI.
Older reports indicate that the third-quarter revenue forecast in the cloud business would be $21.7 billion to $22 billion. It is just below the analyst average forecast of $22.14 billion, as predicted by Refinitiv. And in the second quarter, the revenue in that segment will almost beat expectations at $21.5 billion.
Latest News
Globally, nations are finding ways to reduce environmental emissions to achieve the goals of clean energy transitions. The transition goals are set to be completed by the end of 2050. Therefore, economies are taking necessary steps to integrate…
Artificial intelligence plays a pivotal role in the tech industry. There is continuous demand for artificial intelligence (AI) in the tech sectors to improve their work. In 2024, the tech industries expect reliable power supply in the tech sector for…
Team Lead - Research