Microsoft has reported its strongest financial quarter in Q3 of 2023, with a significant boost in search and news advertising revenue. Additionally, LinkedIn revenue was up 8% and overall revenue in Productivity and Business Processes increased by 13%. The total sales generated during this period exceeded industry experts’ forecasts. Microsoft’s advertising growth indicates a recovery in ad spend following the economic downturn. The company’s strong performance is attributed to its investment in generative AI, particularly its Intelligent Cloud unit. Satya Nadella, CEO of Microsoft, highlights the infusion of AI throughout the tech stack to drive productivity gains for customers.

source: Microsoft Search and News Advertising revenue up 10% in Q3