Cloud Drives Microsoft Fourth Quarter and FY 2024 Results

Microsoft finished the final quarter of its financial year 2024 with double-digit growth. The software giant also recorded strong growth in FY 2024 compared with the previous year. In the Fourth quarter, Microsoft reported a 15% YoY revenue growth to $64.7 billion. Operating income rose 15% to $27.9 billion, while net income reached $22 billion, a 10% growth YoY. Diluted earnings per share was $2.95 and increased 10%.

“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% year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

Revenue in Productivity and Business Processes was $20.3 billion and increased 11%. Revenue in Intelligent Cloud reached $28.5 billion, a 19% YoY increase. Revenue in More Personal Computing was $15.9 billion and increased 14%. Microsoft returned $8.4 billion to shareholders in the form of share repurchases and dividends in the fourth quarter. In FY 2024, the company recorded a 16% increase in revenue to $245.1 billion. Operating income was $109.4 billion and increased 24%, net income was $88.1 billion (22% jump YoY), while diluted earnings per share were $11.80 and increased 22%.