On Thursday evening, Microsoft reported net income up 20% to $21.9 billion for the third quarter of 2023-24, representing EPS of $2.94, and operating profit up 23% to $27.6 billion.

Sales for the Redmond, Washington-based IT giant came in at $61.9 billion, up 17%, buoyed in particular by the strength of its cloud business, whose revenues rose by 23% to $35.1 billion.

Microsoft Copilot and the Copilot stack are orchestrating a new era of transformation through artificial intelligence, driving better business results across all roles and industries", says CEO Satya Nadella.

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