Microsoft Cloud Strength Fuels First Quarter Results
Microsoft News, Tuesday, October 24,2023
Microsoft Corp. announced the following results for the quarter ended September 30, 2023, as compared to the corresponding period of last fiscal year
- Revenue was $56.5 billion and increased 13% (up 12% in constant currency)
- Operating income was $26.9 billion and increased 25% (up 24% in constant currency)
- Net income was $22.3 billion and increased 27% (up 26% in constant currency)
- Diluted earnings per share was $2.99 and increased 27% (up 26% in constant currency)
'With copilots, we are making the age of AI real for people and businesses everywhere,' said Satya Nadella, chairman and chief executive officer of Microsoft. 'We are rapidly infusing AI across every layer of the tech stack and for every role and business process to drive productivity gains for our customers.'
'Consistent execution by our sales teams and partners drove a strong start to the fiscal year with Microsoft Cloud revenue of $31.8 billion, up 24% (up 23% in constant currency) year-over-year,' said Amy Hood, executive vice president and chief financial officer of Microsoft.