LogInThe company earned $56.5 billion in the 3 months.
Image credit: Rare | Sea of Thieves
Microsoft has published its financial results for FY24 Q1 ended September 30, 2023. Its revenue in the period reached $56.5 billion, increasing 13% year-on-year, the operating income rose by 25% to reach $26.9 billion, and the net income saw a 27% increase, amounting to $22.3 billion.
"With copilots, we are making the age of AI real for people and businesses everywhere," said Satya Nadella, chairman and chief executive officer of Microsoft. "We are rapidly infusing AI across every layer of the tech stack and for every role and business process to drive productivity gains for our customers.”
Image credit: Rare | Sea of Thieves
Here is a more detailed breakdown of Microsoft's earnings. Revenue in Productivity and Business Processes was $18.6 billion and increased 13% year-on-year. In this category, Office Commercial products and cloud services revenue increased 15%, Office Consumer products and cloud services revenue grew 3% and Microsoft 365 Consumer subscribers increased to 76.7 million. LinkedIn revenue rose 8%, and Dynamics products and cloud services revenue increased 22%.
Revenue from Intelligent Cloud saw a 19% growth, reaching $24.3 billion, while the revenue in More Personal Computing hit the mark of $13.7 billion, 3% more than in the same period last year. From this, the company's devices revenue decreased by 22%, Windows revenue increased by 5% and Xbox content and services revenue grew by 13%. The revenue in the gaming sector is connected to the launch of Starfield, updates to games like Sea of Thieves, Minecraft, and Age of Empires, and Game Pass.
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