Microsoft reports $36.6bn profit amid buyouts for 60,000 workers

Microsoft posted a profit of more than $36.6 billion for the three months ending in September, according to BBC Technology.

The company announced plans to offer buyouts to around 60,000 workers, representing one in four of its workforce, as part of cost-cutting efforts.

Microsoft's quarterly revenue increased 19% year-over-year to $92.3 billion, driven by a 30% growth in its cloud computing business.

The firm is investing billions into artificial intelligence infrastructure, despite uncertainties about the financial returns of such spending.

Shares of Microsoft rose nearly 2.9% in after-hours trading following the earnings announcement.

CEO Satya Nadella highlighted that AI development has contributed to increased technology adoption, though the company flagged risks related to substantial AI investments.