REDMOND, Wash. (AP) — Microsoft said Wednesday that its revenue for the October-December quarter was $81.3 billion, up 17% from the same time last year and beating Wall Street expectations.
The company reported net profit for the quarter of $30.9 billion, or $4.14 per share, also beating Wall Street expectations. Those results excluded the impact from Microsoft’s investments in ChatGPT maker OpenAI.
Microsoft was expected to earn $3.91 per share on revenue of $80.31 billion for the October-December quarter, according to analysts surveyed by FactSet Research.
Microsoft’s profit was higher, at $38.5 billion, or $5.16 per share, when not incorporating its OpenAI investments, reflecting a new accounting practice the company says it will be using going forward.
Those investments reflect OpenAI’s restructuring last year. Microsoft had a roughly 27% percent, or $135 billion stake, in OpenAI as the artificial intelligence startup, originally a nonprofit, has converted itself into a new for-profit corporation.
