Microsoft's cloud computing and artificial intelligence business helped deliver $70.1 billion in sales and boosted profits by 18% for the January-March quarter, a dose of relief for investors during a turbulent time for the tech sector and U.

Microsoft's quarterly profits increased by 18% for the January-March quarter, driven by its cloud computing and artificial intelligence business, generating $70.1 billion in sales and surpassing Wall Street's earnings expectations.

Microsoft Corp. reported stronger-than-expected quarterly sales and profit growth, suggesting customer demand for cloud services has held steady despite a wave of new tariffs and economic turbulence.