Microsoft delivered a combination of growth and profitability that impressed Wall Street on Wednesday — especially against the backdrop of greater scrutiny over artificial-intelligence investments.

This was the first quarter in which Microsoft MSFT broke out the revenue contributions of its Azure cloud-computing business in absolute terms. Azure revenue amounted to $33.2 billion in the September quarter, up 48% from a year before. An Evercore ISI analyst said prior to the report that institutional investors were expecting perhaps 47% growth.