Microsoft posted quarterly results that beat expectations, helped by growth in its cloud computing business.

Microsoft recorded revenue of $81.3 billion for its fiscal second quarter ended in December. That was up 17 percent from a year earlier and topped analyst estimates, the Wall Street Journal reported on Wednesday.

Net profit was $38.5 billion, also above expectations, the Journal reported. Operating profit was $38.3 billion, up 21 percent from a year earlier.

The closely watched Azure cloud computing business grew 39 percent, matching analyst forecasts. The Azure cloud computing unit grew 40 percent year-on-year in fiscal first quarter and extended that growth in the latest quarter.

A new deal signed with OpenAI in October also had a positive impact on the results. OpenAI reorganised its corporate structure as it considered an initial public offering, and Microsoft secured about a 27 percent stake in a newly launched OpenAI public benefit corporation. The value of that stake was also reflected in the latest results.

As a result, Microsoft recorded other income of $9.97 billion in the latest quarter.

By business, the Intelligent Cloud segment, which includes the Azure cloud infrastructure business, recorded revenue of $32.91 billion in the latest quarter. That was up 29 percent from a year earlier.

Revenue for the Productivity and Business Processing segment, which includes Office software and LinkedIn, was $34.12 billion, up 16 percent from a year earlier.