Microsoft posts $36.6bn profit after offering buyouts to one in four workers
The week, the Windows developer said it would offer buyouts to 60,000 workers as it looks to curb costs.
Microsoft reports $36.6bn profit after offering buyouts to one in four workers
Technology giant Microsoft said its profits for the three months to the end of September climbed to more than $36.6bn (£27.5bn), only days after it announced plans to reduce its workforce by more than a quarter.
On Monday, the Windows developer said it would extend voluntary buyouts to around 60,000 workers as it seeks to cut costs while pouring billions of dollars into artificial intelligence (AI).
Like other tech companies, Microsoft is investing heavily in the infrastructure that powers AI, even as questions persist over whether such massive spending will pay off.
Microsoft shares rose by almost 2.9% in after-hours trading in New York on Wednesday.
Investors have been closely following the latest financial results from tech companies as they assess whether the heavy spending on AI is sustainable.
Microsoft said on Wednesday that its quarterly revenue increased to $92.3bn, supported by strong growth in its cloud computing business.
The company’s chairman and chief executive, Satya Nadella, said in a statement: "We are delivering greater capability, choice, control, and cost efficiency for customers across our entire stack."
"By helping organisations build and own their own intelligence, and earning trust through agent safety and security, we are translating our innovation into growing adoption and real-world impact across every industry," Nadella said.