Microsoft delivered quarterly results that beat expectations on strong growth in its cloud business, the Wall Street Journal (WSJ) reported on Oct. 28.

Microsoft posted fiscal first-quarter revenue of $92.28 billion. That was up 19 percent from a year earlier and well above analysts’ estimate of $90.62 billion compiled by FactSet, the report said.

Net profit rose to $36.63 billion, or $4.92 per share, from $27.75 billion, or $3.72 per share, a year earlier. Adjusted earnings per share were $4.89, topping the market estimate of $4.71.

Microsoft shares rose 4 percent to $552.33 in after-hours trading, WSJ reported.

Revenue from its Azure cloud business rose 48 percent, leading the growth.

Microsoft’s Agent & Infrastructure division, launched in September, posted revenue of $76.8 billion. That division includes revenue from Azure cloud and Microsoft 365, among others.

Investors are watching whether big tech companies’ investments worth hundreds of billions of dollars in AI will translate into tangible results.

Microsoft lowered its capital expenditure outlook for 2026 in the previous quarter to about $175 billion from about $190 billion. That followed an increase in the estimated useful life of data centres and office buildings to 25 years from 15 years, WSJ reported.