Also announced were figures for the final quarter of the fiscal year, which saw the company pull in US$56,2 billion in revenue, a rise of 8% year-on-year, and profit of US$20.1 billion.
The results come at a time when the company is under pressure over a breach of its Azure platform which led to several US Government sites being hit.
Microsoft has come in for criticism from industry figures even as it obfuscated about the incident, said to be perpetrated by attackers from China, most recently denying a detailed technical post about the breach by cloud security firm Wiz, after having given its blessing to the post.
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Chairman and chief executive Satya Nadella said in a statement: "Organisations are asking not only how – but how fast – they can apply this next generation of AI to address the biggest opportunities and challenges they face – safely and responsibly.
“We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend, and driving operating leverage.”
Executive vice-president and chief financial officer Amy Hood added: “We delivered a solid close to the fiscal year driven by Microsoft Cloud quarterly revenue of US$30.3 billion, up 21% (up 23% in constant currency) year-over-year."
The company has recently received a boost in its bid to acquire games giant Activision Blizzard, with the two firms agreeing to extend their deadline for an agreement to 18 October.
Prior to that, Microsoft and Sony agreed to keep the popular game Call of Duty on PlayStation after the acquisition of Activision Blizzard, a step which was seen as moving the deal a step closer.
The deal now awaits approval from the UK's Competition and Markets Authority, which has indicated that it would be open to a change in the transaction which would address the concerns it has set out in its final report.