Microsoft reported revenue of $90 billion for its fiscal fourth quarter ended June 30, up 18% from a year earlier. Net income rose 31% to $35.8 billion. Meta Platforms reported a revenue of $90.2 billion, up 14% from a year earlier.
Microsoft and Meta Platforms reported their latest quarterly results on Wednesday, with both companies continuing to invest heavily in artificial intelligence. Microsoft reported revenue of $90 billion for its fiscal fourth quarter ended June 30, up 18% from a year earlier. Net income rose 31% to $35.8 billion. Meta Platforms reported a revenue of $90.2 billion, up 14% from a year earlier. The software giant's cloud business remained its biggest growth driver, while Meta's advertising revenue continued to drive its growth.