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LATEST FINANCIAL ANNOUNCEMENT

Microsoft Corporation

NASDAQ: MSFT

Q4 FY24

30 July 2024

Senior Associate: Joseph Hang Ellision

Microsoft Cloud strength drives fourth quarter results

REDMOND, Wash. — July 30, 2024 — Microsoft Corp. today 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...

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