Microsoft's cloud brings rain of revenue but modest M365 AI revenue harvest

Microsoft on Wednesday reported $90 billion in revenue for the quarter ended June 30, an increase of 18 percent, lifting its stock more than 7 percent in after hours trading. The cash intake was more than Wall Street analysts anticipated, and showed up where it counted – the company's cloud business and AI services. Microsoft Cloud revenue reached $59.3 billion, up 27 percent year-over-year, and its Azure business revenue grew 43 percent.