(File photo)
ISTANBUL – US-based global tech major Microsoft saw its revenue jump 18 percent in the final quarter of 2023, according to its financial results statement released Tuesday.
The tech giant posted a USD62 billion revenue in the last three months of 2023.
Net income was more than USD21.8 billion, while operating income was USD27 billion, both 33 percent higher than the same period of the previous year.
"We’ve moved from talking about AI to applying AI at scale," Chair and CEO Satya Nadella said in a statement, referring to artificial intelligence.
"By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector," she said.
Amy Hood, executive vice president and chief financial officer of Microsoft, said Microsoft Cloud revenue increased 24 percent year-on-year to reach USD33.7 billion in the October-December period.
Revenue at the company’s Intelligent Cloud unit was USD25.9 billion – an increase of 20 percent, according to the financial results.
Microsoft saw its market value surpass USD3 trillion last Friday and overtook Apple as the world's most valuable public company by market capitalization.
Its market value stood at USD3.04 trillion after the market close on Tuesday, while Apple's market cap fell to USD2.91 trillion. (Anadolu)
