Microsoft Half-Year Report 2024
Microsoft Corp. announced the following results for the quarter ended December 31, 2023, as compared to the corresponding period of last fiscal year:
- Revenue was $62.0 billion and increased 18% (up 16% in constant currency)
- Operating income was $27.0 billion and increased 33%, and increased 25% non-GAAP (up 23% in constant currency)
- Net income was $21.9 billion and increased 33%, and increased 26% non-GAAP (up 23% in constant currency)
- Diluted earnings per share was $2.93 and increased 33%, and increased 26% non-GAAP (up 23% in constant currency)
Microsoft completed the acquisition of Activision Blizzard, Inc. (“Activision”) on October 13, 2023. Financial results from the acquired business are reported in the More Personal Computing segment.
“We’ve moved from talking about AI to applying AI at scale,” said Satya Nadella, chairman and chief executive officer of Microsoft. “By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector.”
Business Highlights
Revenue in Productivity and Business Processes was $19.2 billion and increased 13% (up 12% in constant currency), with the following business highlights:
- Office Commercial products and cloud services revenue increased 15% (up 13% in constant currency) driven by Office 365 Commercial revenue growth of 17% (up 16% in constant currency)
- Office Consumer products and cloud services revenue increased 5% (up 4% in constant currency) and Microsoft 365 Consumer subscribers grew to 78.4 million
- LinkedIn revenue increased 9% (up 8% in constant currency)
- Dynamics products and cloud services revenue increased 21% (up 19% in constant currency) driven by Dynamics 365 revenue growth of 27% (up 24% in constant currency)
