Microsoft invests in artificial intelligence: Profit up 33% in the period

Technology giant Microsoft has announced a significant increase in its profits for the period October-December 2023, which is 33%. The main incentive for this increase was large investments in the field of artificial intelligence. According to the corporation, the main focus is on the development of computing clouds, where Microsoft concentrates most of its investments in artificial intelligence.

The AR report states that the company's net profit for the quarter amounted to $21.87 billion, and the value of one share increased by $2.93. These figures exceeded Wall Street analysts' expectations of $2.79 per share.

"Microsoft continues to assert its leadership in artificial intelligence," said Jeremy Goldman, Insider Intelligence briefing director, adding that AI technology could help increase Microsoft's share in digital advertising.

Microsoft's global advertising revenues are expected to grow by 12% this year to $14.93 billion, while Google, expanding its large advertising business, plans to increase it by 10% over the same period.

According to the report, Microsoft's cloud business segment outperformed other divisions, showing a 20% increase in revenue compared to the same period last year, amounting to $25.88 billion for the quarter.

The company's revenue for the January-March quarter is projected to reach $60.97 billion. This estimate already includes revenue from Activision Blizzard, the video game maker that Microsoft officially acquired on October 13 for $69 billion.