The Globe and Mail reports in its Wednesday, July 26, edition that Microsoft beat Wall Street estimates for profits on Tuesday, posting record growth in its cloud computing business. A Reuters dispatch to The Globe reports that Microsoft revenue rose to $56.2-billion in the fourth quarter ended June (all figures U.S.). That compared with the consensus estimate of $55.5-billion. Net income was $2.69 a share, compared with estimates of $2.55 a share. Shares of the company dropped 2 per cent in after-market trading. Microsoft's Intelligent Cloud unit, which houses the Azure cloud computing platform, grew to $24-billion, compared with the average estimate of $23.8-billion. Azure revenue rose 26 per cent, higher than a 25.2-per-cent growth estimate from Visible Alpha. The company does not break out the absolute revenue figure for Azure, the part of Microsoft's business best situated to capitalize on booming interest in artificial intelligence. Investors have rallied behind Microsoft in recent months as the company has unveiled generative AI features across its products, including integrating a chatbot into its Bing search engine and adding an AI assistant to its software used in offices around the world.