2023-04-29 16:02:07
Microsoft CEO Satya Nadella made it clear that “investing in the new wave of artificial intelligence” will remain a major focus during his statements regarding the release of results for the third fiscal quarter ending on March 31, 2023. According to a CNBC report of this American company.
This comes following Microsoft announced last January that it was investing billions of dollars in OpenAI, the developer of ChatGPT, an AI-powered chatbot.
Since then, Microsoft has begun integrating AI technology into some of its popular products, including Word, PowerPoint, and Excel, and the company expects AI to help drive revenue growth over time as it improves its products.
And in the statement of quarterly business results, the company’s financial revenue for the third quarter increased by 7% to $ 52.86 billion, exceeding analysts’ expectations of $ 51.02 billion.
In addition, Microsoft posted earnings per share of $2.45, beating analysts’ expectations of $2.23.
In response to these results, Microsoft’s share price rose by regarding 8% to close at $295.37 on Wednesday, and the gains momentum continued in Thursday’s session, reaching a 52-week high.
What if someone invests $1,000 to buy Microsoft stock before a certain period of time?
If you invested $1,000 in Microsoft a year ago, your investment would be worth regarding $1,103 as of April 26, according to CNBC’s calculations.
If you had invested $1,000 in the company’s stock five years ago, your investment would have more than tripled to $3,248 by April 26th.
But if you had invested $1,000 in Microsoft 10 years ago, your investment would have amounted to $9,841.
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