Microsoft Cloud Strength Drives Fourth Quarter Results
Microsoft Corporation Investor Relations
July 30, 2024
Microsoft Corp. (MSFT) reported fourth-quarter revenue that exceeded Wall Street estimates on Tuesday. The company attributed the strong results to increased adoption of artificial intelligence (AI) across its cloud services.
Microsoft’s cloud revenue grew by 30% year-over-year, with Azure, the company’s flagship cloud platform, leading the way. Azure’s revenue jumped by 40% during the quarter, driven by demand for its AI-powered services, such as natural language processing and machine learning.
The company’s overall revenue for the quarter rose by 15% year-over-year to $51.9 billion, surpassing analysts’ expectations of $50.1 billion. Net income also increased by 18% to $18.1 billion, or $2.23 per share.
The strong results underscore the growing importance of cloud services in today’s digital economy. Businesses of all sizes are increasingly relying on cloud platforms to power their operations, enabling them to be more efficient, innovative, and customer-centric. Microsoft, with its strong position in the cloud market, is well-positioned to capitalize on this trend and continue its growth trajectory.
For more information and links to statements filed with the SEC, please visit the Microsoft Investor Relations SEC Filings page.
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