Microsoft shares jump after hours on $90B revenue, Azure 43%
Business
Microsoft's shares shot up nearly 9% after hours on Wednesday thanks to a strong Q4 showing.
The company pulled in $90 billion in revenue, up 18% from last year, and posted profits of $4.74 per share, beating Wall Street's expectations.
Azure cloud also crushed it, growing 43%, which was higher than analysts predicted.
Satya Nadella credits AI for gains
CEO Satya Nadella highlighted major gains from Microsoft's AI investments, saying its custom models and chips boosted efficiency by up to 40%.
Even with capital spending rising over 70% to $41 billion, it was still less than forecast.
Microsoft's performance mirrors broader cloud trends (like Google Cloud's recent surge) and has investors feeling optimistic about what's next.