New Delhi, July 29 -- Microsoft shares traded higher on Wednesday as investors awaited the software giant's fiscal fourth quarter earnings, scheduled for release after the closing bell. Market participants are closely watching whether the company's massive investments in artificial intelligence are beginning to deliver stronger financial returns.

According to consensus estimates, analysts expect Microsoft to report adjusted earnings of $4.24 per share on revenue of $87.62 billion.

The projected revenue would represent a 14.6% year-over-year increase for the quarter ended June 30. Analysts also expect growth to accelerate slightly to 15.4% in the September quarter.

At 1:27 p.m. EDT, Microsoft shares were up 0.62%, or $2.42, at $395.77....