Microsoft Corp. on July 30 announced the following results for the quarter ended June 30, 2024, as compared to the corresponding period of last fiscal year:
· Revenue was $64.7 billion and increased 15% (up 16% in constant currency)
· Operating income was $27.9 billion and increased 15% (up 16% in constant currency)
· Net income was $22.0 billion and increased 10% (up 11% in constant currency)
· Diluted earnings per share was $2.95 and increased 10% (up 11% in constant currency)
“Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft,” said Satya Nadella, chairman and chief executive officer of Microsoft. “As a platform company, we are focused on meeting the mission-critical needs of our customers across our at-scale platforms today, while also ensuring we lead the AI era.”
“We closed out our fiscal year with a solid quarter, highlighted by record bookings and Microsoft Cloud quarterly revenue of $36.8 billion, up 21% (up 22% in constant currency) year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.
Business Highlights
Revenue in Productivity and Business Processes was $20.3 billion and increased 11% (up 12% in constant currency), with the following business highlights:
· Office Commercial products and cloud services revenue increased 12% (up 13% in constant currency) driven by Office 365 Commercial revenue growth of 13% (up 14% in constant currency)
· Office Consumer products and cloud services revenue increased 3% (up 4% in constant currency) and Microsoft 365 Consumer subscribers grew to 82.5 million
· LinkedIn revenue increased 10% (up 9% in constant currency)
· Dynamics products and cloud services revenue increased 16% driven by Dynamics 365 revenue growth of 19% (up 20% in constant currency)
Revenue in Intelligent Cloud was $28.5 billion and increased 19% (up 20% in constant currency), with the following business highlights:
· Server products and cloud services revenue increased 21% (up 22% in constant currency) driven by Azure and other cloud services revenue growth of 29% (up 30% in constant currency)
Revenue in More Personal Computing was $15.9 billion and increased 14% (up 15% in constant currency), with the following business highlights:
· Windows revenue increased 7% (up 8% in constant currency) with Windows OEM revenue growth of 4% and Windows Commercial products and cloud services revenue growth of 11% (up 12% in constant currency)
· Devices revenue decreased 11% (down 9% in constant currency)
· Xbox content and services revenue increased 61% driven by 58 points of net impact from the Activision acquisition
· Search and news advertising revenue excluding traffic acquisition costs increased 19%
Microsoft returned $8.4 billion to shareholders in the form of share repurchases and dividends in the fourth quarter of fiscal year 2024.
Fiscal Year 2024 Results
Microsoft Corp. today announced the following results for the fiscal year ended June 30, 2024, as compared to the corresponding period of last fiscal year:
· Revenue was $245.1 billion and increased 16% (up 15% in constant currency)
· Operating income was $109.4 billion and increased 24%, and increased 22% non-GAAP (up 21% in constant currency)
· Net income was $88.1 billion and increased 22%, and increased 20% non-GAAP
· Diluted earnings per share was $11.80 and increased 22%, and increased 20% non-GAAP