Microsoft disclosed its financial results for the 3rd fiscal 2024 period, which ended March 31, 2024. Revenue was $61.9 billion, up from $52.9 billion in the same period a year ago. The net profit reached 21.9 billion dollars, which is also an increase compared to the 18.3 billion dollars the company received in net profit a year ago. Microsoft’s earnings per share were $2.93 in the quarter, up from $2.45 a year ago.

CNBC Says the numbers beat the estimates of financial analysts. Its share price rose Over 5 percent in after-hours trading As of this writing.

Microsoft’s cloud revenues made up more than half of the company’s total revenues last quarter with $35.1 billion, compared to $28.5 billion a year ago. The company also added that the number of its Microsoft 365 Consumer subscribers rose to 80.8 million, compared to 65.4 million a year ago.

The company’s productivity and business processes division generated revenues of $19.6 billion in the quarter, a 12% increase compared to the same period last year. Its intelligent cloud division posted revenue of $26.7 billion last quarter, up 21% from last year.

Microsoft’s more personal computing division, which includes its Windows, Devices and Xbox divisions, earned $15.6 billion in the quarter. This is a 17 percent increase compared to a year ago. The Xbox division had a huge 62 percent increase in revenue, driven mostly by added money from recently acquired Activision Blizzard.

Windows revenue was up 11% overall, with Windows OEM revenue also up 11% while Windows commercial products and cloud services revenue was up 13% from last year. However, device revenue from Microsoft was actually down 17% in the quarter.

Microsoft will hold a conference call with financial analysts later today, where we may learn more about the company’s earnings forecasts for the current quarter.

source: Microsoft