Revenue from Azure cloud business increased by 22% as company focuses attention on artificial intelligence

Microsoft reported better-than-expected earnings on Wednesday fueled by growth in its Azure cloud business, as five of the “Magnificent Seven” tech megacaps roll out quarterly earnings this week.

“AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process,” the company’s CEO, Satya Nadella, said in a press release. “We are expanding our opportunity and winning new customers as we help them apply our AI platforms and tools to drive new growth and operating leverage.”