Microsoft has announced soaring quarterly profits of £27.5billion - just days after revealing plans to shed 60,000 workers to instead invest in AI.
The technology giant announced on Monday that it would offer approximately 60,000 staff buyouts as it seeks to reduce costs and invest billions in AI infrastructure.
In after hours trading in New York on Wednesday, the BBC reports, Microsoft shares jumped close to 2.9%.
The Windows developer also announced its revenue for the three months to September 30 hit $92.3billion, a 19% increase on the previous year.
The increase was due in part to a 30% rise in revenue for Microsoft Cloud, while the company did also highlight risk factors including what it called "substantial investments" in AI among uncertainties that could affect finances.
Profits also rose to more than $36.6billion (£27..5billion).
FSTE100
The UK's flagship share index, the FTSE 100, was up 96 points at 10,748 shortly after opening this morning.
Brent crude oil futures were down 1.02%, sitting at $110.50 a barrel this morning.
Companies reporting
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- Computacenter - Q3 Trading Statement
- Eli Lilly - Q3 Results
- Glencore - Q3 Production Update
- Haleon - Q3 Trading Statement
- IMI - Q3 Trading Statement
- Lloyds - Q3 Interim Management Statement
- Mastercard - Q3 Results
- Shell - Q3 Results
- St James's Place - Q3 Results
- The Magnum Ice Cream Company - Q3 Trading Statement
- WPP - Q3 Trading Statement