Microsoft posts $36.6bn profit after offering buyouts to one in four workers

Technology giant Microsoft says its profits for the three months to the end of September jumped to more than $36.6bn (£27.5bn), just days after announcing plans to cut its workforce by more than a quarter.

On Monday, the Windows developer said it would offer voluntary buyouts to around 60,000 of its workers to cut costs as it pours billions of dollars into artificial intelligence (AI).

Like other tech firms, Microsoft is investing heavily in the infrastructure that powers AI even as questions remain over whether such huge spending will pay off.

Microsoft shares rose by almost 2.9% in after hours trading in New York on Wednesday.