Microsoft: Shares jump eight per cent as AI helps software giant’s sales beat expectations

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City AM

By Abby Wallace Microsoft beat Wall Street’s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company 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 per cent in after-market trading following a report by Redmond, Washington-based Microsoft that profits were $2.45 (£1.97) per share in the fiscal third quarter, beating Wall Street estimates of $2.23 (£1….

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