Microsoft beat estimates Microsoft reported better-than-expected quarterly revenue on Tuesday. It reported a revenue of just over $56 billion for the last quarter, representing a 13% increase compared to the same period last year. This growth was primarily driven by the strong performance of Microsoft’s Azure cloud computing division and office software businesses. Big Tech companies are under constant pressure to meet high targets set by investors. Microsoft is banking on artificial intelligence (AI) to enhance its business in the long term. This explains the company’s investments in OpenAI, the creator of ChatGPT, and its efforts in developing its own chatbot. The positive results from the integration of AI in their quarterly performance should alleviate investors’ concerns about the potential slowdown of Microsoft’s cloud business, which is its biggest revenue generator. This success further strengthens trust in Microsoft’s overall strategy. Meta reported mixed results Meta Platforms Inc. reported a combination of positive and negative results in its recent financial report....