Microsoft and Reliance Industries report record quarterly earnings

Microsoft has achieved a new quarterly revenue record of 92.3 billion dollars, representing a 19 percent increase compared to the same period last year. The company reported a net income of 36.6 billion dollars, up 32 percent year-over-year. This growth was primarily driven by its cloud business, which generated 63.9 billion dollars in revenue, a 30 percent increase. Microsoft also noted significant contributions from AI-related activities, including approximately 10 billion dollars in revenue from OpenAI.

In India, Reliance Industries reported a record quarterly net profit of 29,550 crore rupees, surpassing market expectations. This marks the first time in the company's history that it has achieved such a profit in a single quarter. Consolidated revenue rose 28 percent to reach 3.62 lakh crore rupees. The growth was largely attributed to the Oil-to-Chemicals (O2C) segment, which saw revenue increase by 44.2 percent, and strong performance in digital services through Jio Platforms.