The tech giant released financial results for its fourth fiscal quarter, which ran from May through the end of June, on Wednesday and exceeded Wall Street estimates. Microsoft reported $76.4 billion in revenue with $27.2 billion in profit, both metrics showing their highest year-over-year growth in over two years.

Microsoft said Wednesday that annual revenue for its flagship Azure cloud computing platform has surpassed $75 billion, up 34% from a year earlier. The Azure cloud business is a centerpiece of

Microsoft's Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street's expectations and showcasing the growing returns on its massive artificial intelligence bets.

Shares were up over 7% after hours following Microsoft's reported fourth-quarter revenue of $76.4 billion and earnings of $3.65. Analysts surveyed by Bloomberg expected quarterly revenue of $73.89 billion and earnings of $3.37 per share.

Microsoft Corp. is set to become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in extended trading Wednesday.

Microsoft isn't slowing down. The world's second-largest company by market cap reported blockbuster fourth-quarter earnings, sending shares surging so high after hours that the tech giant became a member of the exclusive $4 trillion club.