Microsoft results top forecasts, shares jump 8% as AI juices sales

By Yuvraj Malik and Jane Lanhee Lee (Reuters) -Microsoft Corp beat Wall Street’s estimates quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and Microsoft said artificial intelligence products were stimulating sales. The company forecast revenue in its main segments for the current quarter would match or top Wall Street targets. Shares gained 8.3% in after-market trading following a report by Redmond, Washington-based Microsoft that profits were $2.45 per share in the fiscal third quarter, beating Wall Street estimates…

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