Shares in the software giant rose 7.3 percent to $551 in after-hours trading as investors anticipate greater artificial intelligence offerings from the Azure cloud-computing business.

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.