Microsoft's AI business surpassed a $37 billion annual run rate as cloud growth beat forecasts

Azure revenue grew 40% year over year, topping analyst expectations, as total quarterly revenue rose 18% to $82.9 billion

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Microsoft $MSFT reported fiscal third-quarter revenue of $82.9 billion, up 18% from the same period a year earlier, with earnings per share of $4.27 on a GAAP basis, up 23% year over year. Wall Street had been looking for revenue of $81.39 billion and earnings of $4.06 per share, per CNBC.

Compared with $25.82 billion earned in the same period last year, net income climbed to $31.78 billion in the quarter that closed March 31. Microsoft returned $10.2 billion to........

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