Microsoft reports that its cloud business grows at its fastest rate in four years, driven by demand for its cloud computing and artificial intelligence services. In its fiscal fourth-quarter results, Microsoft says Azure revenue increases 43% year over year. The company describes this as the fastest quarterly growth since early 2022 and notes it exceeds analysts’ average estimate of roughly 40%. Microsoft also says Azure sales exceed $100 billion for the first time in the fiscal year ended in June.
In comments accompanying the results, Microsoft Chief Financial Officer Amy Hood says it expects cloud unit growth to accelerate further in the current quarter, forecasting about 45% growth. The reporting indicates that Microsoft’s infrastructure and AI-related offerings continue to expand among businesses, contributing to the faster growth rate.
