Microsoft Reports Record Quarter with Revenue Surging to $61.9 bn

Software major Microsoft has disclosed its impressive financial performance for the quarter ending March 31, 2024.
Microsoft storesMicrosoft’s revenue rose 17 percent to $61.9 billion.

Microsoft’s operating income grew 23 percent to $27.6 billion.

Microsoft’s net income increased 20 percent to $21.9 billion.

“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry,” Satya Nadella, chairman and chief executive officer of Microsoft, said in its earnings report.

Productivity and Business Processes: Revenue in this segment reached $19.6 billion, reflecting a 12 percent increase. Microsoft’s Productivity and Business Processes unit houses office software and LinkedIn. Notable highlights include a 13 percent increase in Office Commercial products and cloud services revenue, a 4 percent increase in Office Consumer products and cloud services revenue, a 10 percent increase in LinkedIn revenue, and a 19 percent increase in Dynamics products and cloud services revenue.

Intelligent Cloud: Revenue in this segment reached $26.7 billion, marking a 21 percent increase. Intelligent Cloud houses the Azure cloud computing platform. Key highlights include a 24 percent increase in server products and cloud services revenue, driven by 31 percent growth in Azure and other cloud services revenue.

More Personal Computing: Revenue in this segment reached $15.6 billion, reflecting 17 percent increase. Notable highlights include an 11 percent increase in Windows revenue, driven by growth in both Windows OEM revenue and Windows Commercial products and cloud services revenue. The Copilot tool, a set of genAI assistants launched in November for $30 a month, has lifted Microsoft’s enterprise software and Windows businesses. Additionally, Xbox content and services revenue surged by 62 percent, primarily attributed to the net impact from the Activision acquisition.

Related News

Latest News

Latest News