Microsoft beats Wall Street expectations for fourth quarter in a row amid AI boom

Tech giant has committed to investing $80bn in artificial intelligence this fiscal year as it reveals revenue of $70.07bn

Microsoft released its quarterly earnings report on Wednesday after the New York stock market closed, beating Wall Street's expectations for the fourth quarter in a row amid a financial boom for artificial intelligence businesses.

The company revealed revenue of $70.07bn and earnings of $3.46 per share. The result exceeded analyst predictions that revenue would grow to $68.42bn, or 10.6% year-over-year, and that earnings-per-share would come in at $3.22.