Cloud Pushes Another Good Results for Microsoft

Microsoft posted another solid report for 1Q24. Its revenue jumped 17% to $61.9 billion in 1Q24 while operating income grew 23% to $6.19  billion Net income reached $21.9 billion and increased 20%.

“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry,” said Satya Nadella, chairman and chief executive officer of Microsoft. “This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year, driven by strong execution by our sales teams and partners,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

Revenue in Productivity and Business Processes was $19.6 billion and increased 12%. Revenue in Intelligent Cloud was $26.7 billion and increased 21%. Revenue in More Personal Computing was $15.6 billion and increased 17%. Microsoft returned $8.4 billion to shareholders in the form of share repurchases and dividends in the third quarter of fiscal year 2024.