1. Microsoft reported impressive fourth-quarter results for the fiscal year ending June 30, 2024, with revenue reaching $64.7 billion, a 15% increase. The company highlighted its robust cloud performance, with Microsoft Cloud revenue at $36.8 billion, up 21%. CEO Satya Nadella emphasized customer trust and innovation as key drivers of success.2.
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Microsoft Cloud Strength Drives Impressive Fourth Quarter Results
On July 30, 2024, Microsoft Corp. announced its financial results for the quarter ending June 30, 2024. The numbers reveal a robust performance, driven primarily by the strength of Microsoft Cloud.
What’s New?
Microsoft reported a revenue of $64.7 billion, marking a 15% increase compared to the same period last year. Operating income also rose to $27.9 billion, reflecting a similar 15% growth. Notably, net income reached $22 billion, a 10% increase year-over-year.
“Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft,” said Satya Nadella, CEO.
Major Updates in Cloud Revenue
The highlight of the quarter was Microsoft Cloud, which generated $36.8 billion in revenue—up 21% year-over-year. This growth is attributed to the increasing demand for cloud services, particularly Azure.
In the Intelligent Cloud segment, revenue reached $28.5 billion, a 19% increase. Azure and other cloud services saw an impressive growth of 29%, showcasing Microsoft’s commitment to cloud innovation.
Productivity and Business Processes
Revenue in the Productivity and Business Processes segment was $20.3 billion, up 11%. Office 365 Commercial revenue grew by 13%, highlighting the ongoing shift to cloud-based solutions. Microsoft 365 Consumer subscribers also rose to 82.5 million, indicating strong consumer engagement.
What’s Important to Know
Microsoft’s overall fiscal year results were equally impressive, with total revenue reaching $245.1 billion—a 16% increase. Operating income surged by 24%, and diluted earnings per share climbed to $11.80, reflecting a 22% rise.
“We closed out our fiscal year with a solid quarter, highlighted by record bookings and Microsoft Cloud quarterly revenue,” said Amy Hood, CFO.
Looking Ahead
Microsoft continues to invest heavily in research and development, aiming to enhance productivity and security across its platforms. The company is focused on meeting the mission-critical needs of its customers while leading in the AI era.
As Microsoft prepares for the future, its strong financial performance and commitment to innovation position it well in the competitive tech landscape. Keep an eye on upcoming product releases and enhancements that promise to redefine productivity and cloud services.
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