Microsoft Corp.
Microsoft Reports Strong Q1 2024 Financial Results
Summary
On April 25, 2024, Microsoft Corporation announced its financial results for the fiscal quarter ended March 31, 2024. The company reported a 17% increase in revenue to $61.9 billion, a 23% increase in operating income to $27.6 billion, and a 20% increase in net income to $21.9 billion. Diluted earnings per share (EPS) rose 20% to $2.94. Microsoft attributed its strong performance to the strength of its Microsoft Cloud services, which saw a 23% year-over-year revenue increase. The company also highlighted growth in its Productivity and Business Processes and More Personal Computing segments. Microsoft's forward-looking guidance was set to be provided during the earnings conference call. The press release and financial details are furnished as Exhibit 99.1 to this report.
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About Microsoft Corp.
Microsoft Corp. is a multinational technology corporation that develops, licenses, and supports a diverse range of software products, services, and hardware. At the forefront of its offerings is the Windows operating system, a fundamental platform for personal computing used globally. The company also provides productivity software, such as Microsoft Office, which includes widely utilized applications like Word, Excel, and PowerPoint. Microsoft’s Azure cloud platform plays a significant role in the competitive cloud computing market, providing infrastructure, platforms, and services for businesses of all sizes. Additionally, Microsoft's involvement extends to gaming with its Xbox gaming consoles and a suite of gaming software and online services. Microsoft operates globally, serving individual consumers, small to medium-sized enterprises, and large corporations with enterprise-level solutions. Established in 1975 and headquartered in Redmond, Washington, Microsoft Corp. continues to influence software, cloud technology, and gaming industries, contributing significantly to technological advancements worldwide.
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