Microsoft has reported its quarterly performance for June 2024, with total revenue increasing by 15% from the previous year to $64.727 billion, and net profit per GAAP accounting standards at $22.036 billion.
CEO Satya Nadella emphasized in the report the company’s focus on providing platform services, prioritizing meeting the critical operational needs of customers and instilling confidence in Microsoft as a leader in the AI era.
Revenue breakdown by business segment:
– Productivity and Business Processes: $20.317 billion, up 12%, driven by a 13% increase in Office 365 Commercial.
– Intelligent Cloud: $28.515 billion, up 21%, with Azure and cloud products seeing a 29% increase.
– More Personal Computing: $15.895 billion, up 17%, led by a 7% increase in Windows revenue and a remarkable 61% increase in Xbox revenue primarily due to Activision earnings, offset by an 11% decline in hardware device revenue.
Source: Microsoft
TLDR: Microsoft’s quarterly report for June 2024 showcases revenue growth across all business segments, with a strong focus on platform services and customer-centric operations, positioning the company as a leader in the AI landscape.
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