Microsoft beat Wall Street forecasts on Wednesday, driven by its Azure cloud business, the BBC, CNBC and TechCrunch report. For the first time, it gave Azure's quarterly revenue in dollars.

TechCrunch reports Azure brought in $33.2 billion from July to September, up 48 percent from a year earlier. That is about 36 percent of Microsoft's total revenue. Microsoft had only shared growth rates for Azure before. The new figure lets investors compare it directly with Amazon Web Services and Google Cloud.

Total revenue rose 19 percent to $92.3 billion, the outlets report. CNBC reports analysts expected $90.69 billion. Adjusted earnings were $4.89 a share, above the $4.73 forecast. The BBC reports profit rose to more than $36.6 billion.

Shares rose in late trading. CNBC reports a 4 percent gain, while the BBC reports almost 2.9 percent.

Finance chief Amy Hood said demand still "exceeds supply." She expects Azure to grow 49 to 50 percent next quarter, CNBC reports. Microsoft spent $45.2 billion on new equipment and leases in the quarter. It plans to spend more than $50 billion next quarter.

The results came days after Microsoft said it would offer buyouts to about 60,000 workers to cut costs, the BBC reports. The company has more than 220,000 employees. Chief executive Satya Nadella said AI is having "real-world impact across every industry."

Google Cloud brought in $30.7 billion in the same quarter, putting Azure slightly ahead, TechCrunch reports. Amazon reports its results on Thursday.

What we know: Azure earned $33.2 billion in the quarter, and Microsoft beat forecasts.
What we don't: How much more Microsoft will spend on AI next year.