Microsoft reported its fiscal fourth-quarter earnings on Tuesday, posting $90 billion in revenue, up 18% year over year, and net income of $35.8 billion, up 31%. Both figures topped Wall Street expectations, sending the stock up more than 8% in after-hours trading.
The growth was driven largely by cloud computing and AI. Azure revenue jumped 43% year over year, beating estimates, and full-year Azure revenue surpassed $100 billion for the first time. Microsoft 365 Copilot paid seats surged to more than 30 million, up from 20 million in the prior quarter.
Microsoft also announced plans to lower AI...