Microsoft posted a 17% increase in revenue, to $61.9 billion, with $21.9 billion in profits, up 20%, and earnings of $2.94 per share,

Microsoft's quarterly sales and profit climbed more than projected, lifted by corporate demand for the software maker's cloud and artificial intelligence offerings.

Microsoft’s $2.94 earnings per share topped estimates of $2.82, according to FactSet, and its $61.9 billion in sales topped projections of $60.9 billion. Crucially, Microsoft reported $12.5 billion in operating income in its AI-heavy intelligent cloud division, well above estimates of $12.1 billion.

Microsoft’s revenue and profit rose last quarter as artificial intelligence bolstered demand for its software and cloud services.

Lately Microsoft has offered some quantitative indications of how artificial intelligence is helping its cloud-computing revenues. But some analysts wonder if those disclosures will start changing.

Britain's competition watchdog said on Wednesday it was seeking comments on the AI partnerships between Microsoft and Mistral AI, as well as between Amazon and Anthropic. The Competition and Markets Authority also said it wanted to hear the views of third parties on Microsoft's hiring of former employees of Inflection AI and related arrangements.

British competition regulators said Wednesday they'll scrutinize recent artificial intelligence deals by Microsoft and Amazon over concerns that the moves could thwart competition in the AI industry.

Britain's competition watchdog said on Wednesday it was seeking comments on the AI partnerships between Microsoft and Mistral AI, as well as between Amazon and Anthropic. The Competition and Markets Authority said it was also seeking comments on Microsoft's hiring of former employees of Inflection AI and related arrangements.