Microsoft Corp. announced its financial results for the quarter ended June 30, 2024, reporting a revenue of $64.7 billion, an increase of 15% from the previous year (16% in constant currency). Operating income rose by 15% to $27.9 billion (16% in constant currency), and net income increased by 10% to $22.0 billion (11% in constant currency). Diluted earnings per share were $2.95, up 10% (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.”
Amy Hood, executive vice president and chief financial officer of Microsoft, highlighted that the company closed out its fiscal year with a solid quarter marked by record bookings and Microsoft Cloud quarterly revenue of $36.8 billion, up 21% (22% in constant currency) year-over-year.
In business highlights for the quarter:
- Revenue in Productivity and Business Processes was $20.3 billion, an increase of 11%.
- Office Commercial products and cloud services revenue grew by 12%, driven by Office 365 Commercial revenue growth of 13%.
- LinkedIn revenue increased by 10%.
- Dynamics products and cloud services revenue saw a rise of 16%, driven by Dynamics 365 growth of 19%.
The Intelligent Cloud segment reported revenue of $28.5 billion, increasing by 19%. Server products and cloud services revenue grew by 21%, driven largely by Azure's growth of 29%.
The More Personal Computing segment recorded revenues of $15.9 billion, up by 14%. Windows revenue increased by 7%, while Xbox content and services saw significant growth at 61%, largely due to the Activision acquisition.
For the fiscal year ended June 30, Microsoft's overall revenue was $245.1 billion, marking a rise of 16%. Operating income stood at $109.4 billion with an increase of 24%, while net income reached $88.1 billion with a growth rate of 22%. Diluted earnings per share were reported at $11.80.
Microsoft returned $8.4 billion to shareholders through share repurchases and dividends during Q4 FY2024.
The company will provide forward-looking guidance during its earnings conference call and webcast later today.
Further details on Microsoft's environmental, social governance practices can be found on their investor relations Board and ESG website.
Satya Nadella along with other executives will host a conference call at Pacific time today to discuss these results further.
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