Microsoft Surpasses Q4 Earnings Estimates on Cloud Strength

Key Developments

• Strong performance in the cloud computing segment
• Earnings per share beat analyst expectations
• Revenue growth driven by Azure and other cloud services

Details

Microsoft Corp. announced its financial results for the fourth quarter of fiscal 2024 on Tuesday, reporting better-than-expected revenue and earnings. The company's revenue reached $51.87 billion, a 12.4% increase compared to the same quarter last year. This exceeded analysts' estimates of $50.93 billion.

The growth was primarily attributed to the continued strength of Microsoft's cloud computing segment. Azure, the company's cloud platform, saw a 38% jump in revenue, driven by increased demand for cloud services across various industries.

Microsoft's earnings per share came in at $2.32, beating analysts' projections of $2.29. The company's net income for the quarter was $16.74 billion, a 2.3% increase from the previous year.