Forget about shrinking PC shipments , tough economic conditions, and every other challenge that technology companies face. The industry is in the early stages of an artificial intelligence (AI) gold rush, and partially for that reason, Microsoft just reported its strongest quarter ever in its 48-year history with record figures in sale and profits.
For the quarter ended June 30, 2023, Microsoft generated $56.2 billion, which is an 8% gain compared to the same quarter a year ago. Net income saw even bigger growth, increasing 20% year-over-year to $20.1 billion during the fourth quarter of Microsoft’s fiscal 2023. Previous sales and profits records stood at $52.9 billion (last quarter) and $18.8 billion (Q4 of 2021), respectively.
Microsoft’s been busy infusing AI into its varied products and services, such as Windows Copilot , GitHub Copilot, Bing Chat, Azure AI services, and so forth. Most of the AI push is in the early stages, meaning Microsoft could be on track to see more record quarters as time goes on.
AI Boosts Microsoft To Its Best Quarter Ever Even As Xbox Hardware Sales Tumble
