Microsoft reports record profits while cutting workforce through buyouts

Microsoft has reported a quarterly profit of $36.6 billion, with revenue reaching $92.3 billion for the three months ending in September. The results came two days after the company offered voluntary buyouts to around 60,000 workers. That is more than one quarter of its total workforce. Cloud services grew strongly, with revenue up 30 percent. Company leaders said that investment in artificial intelligence is encouraging more businesses to use their technology. Microsoft has been spending heavily to build AI systems and infrastructure. Despite these large costs, profits remain high. After the announcement, Microsoft shares climbed 2.9 percent in after-hours trading.