Microsoft hits 10 quarters of record-breaking revenue in a row

Microsoft has reported a record-breaking revenue of $92.3 billion, a 19% increase over the previous year, for the 10th quarter in a row. The revenue growth was driven by the strength of Microsoft Cloud, which reached $63.9 billion in revenue, a 30% increase over the year-ago quarter. The company's net income also reached $36.6 billion, a 32% increase over the previous year. The revenue growth was attributed to the success of Microsoft 365, Azure, and OpenAI, with the latter generating $10 billion in revenue. Microsoft's commercial remaining performance obligation increased 73% to $677 billion, representing future revenue committed under existing contracts of the AI labs.