Microsoft just posted the third quarter of its 2024 fiscal financial results. The software maker made $61.9 billion in revenue and a net income of $21.9 billion during Q3. Revenue is up 17 percent, and net income has increased by 20 percent.

Microsoft’s $2.94 earnings per share topped estimates of $2.82, according to FactSet, and its $61.9 billion in sales topped projections of $60.9 billion. Crucially, Microsoft reported $12.5 billion in operating income in its AI-heavy intelligent cloud division, well above estimates of $12.1 billion.

While the FactSet consensus models 28.5% constant-currency Azure growth for the fiscal third quarter, buy-side investors might be more optimistic.

Amazon.com Inc. and Microsoft Corp.’s investments into artificial intelligence startups will get deeper scrutiny from the UK’s antitrust watchdog, the latest example of how global regulators are grappling with how the world’s largest technology firms are influencing the booming market.

British competition regulators say they’ll scrutinize recent artificial intelligence deals by Microsoft and Amazon over concerns that the moves could thwart competition in the AI industry

Britain's competition watchdog said on Wednesday it was seeking comments on the AI partnerships between Microsoft and Mistral AI, as well as between Amazon and Anthropic. The Competition and Markets Authority said it was also seeking comments on Microsoft's hiring of former employees of Inflection AI and related arrangements.