On Tuesday, Microsoft exceeded the expectations of Wall Street in its fiscal first-quarter results across all segments, with growth in its cloud computing and PC divisions as customers eagerly anticipate the utilization of its artificial intelligence (AI) offerings.

Microsoft, a staunch supporter and collaborator with OpenAI, has yet to fully release most of the products stemming from its partnership with the creator of ChatGPT. Nonetheless, there is strong enthusiasm among corporate technology buyers for features such as email summarization into concise bullet points and rapid code completion, which contributed to the company's revenue surging by 13% to $56.5 billion for the quarter ending on September 30. This figure outperformed analysts' consensus estimate of $54.52 billion, as reported by Reuters.

Furthermore, Microsoft reported a 10% increase in search and news advertising revenue, excluding expenses related to acquiring traffic.

The company anticipates sales of $18.8 billion to $19.1 billion for the business segment encompassing LinkedIn, a forecast that largely exceeds expectations, which were at approximately $18.83 billion, according to LSEG data.