Microsoft’s revenue for Q2 FY24 was $62bn, an increase of 18%, compared to $52.74bn in the corresponding quarter of the previous fiscal year, including revenue of $33.7bn earned by Microsoft Cloud, which is an increase of 24% YoY
Microsoft reports revenue of $62bn for Q2 FY24. (Credit: Rufus46/Wikimedia Commons)
Microsoft has reported a net income of $21.87bn for the second quarter of the fiscal year 2024 (Q2 FY24), a 33% increase compared to $16.42bn for the same quarter of the previous fiscal year.
The American tech major’s diluted earnings per share for the quarter ended 31 December 2023 grew by 33% to $2.93, compared to $2.2 in Q2 FY23.
Microsoft’s revenue for Q2 FY24 was $62bn, an increase of 18% compared to $52.74bn in the corresponding quarter of the previous fiscal year. This includes revenue of $33.7bn earned by Microsoft Cloud, which is an increase of 24% year-over-year (YoY).
Its productivity and business processes unit saw a 13% increase in Q2 FY24 revenue to $19.24bn, compared to $17bn in Q2 FY23. LinkedIn, which is part of this business unit, saw its revenue grow by 9%.
The revenue of Office commercial products and cloud services in Q2 FY24 was up by 5% YoY.
Microsoft 365 Consumer subscribers are said to have increased to 78.4 million during the reported quarter.
The intelligent cloud business of Microsoft earned revenue of $25.88bn in the reported quarter, which is an increase of 20%, compared to $21.5bn in Q2 FY23.
Microsoft’s ‘more personal computing’ unit had a 19% increase in its Q2 FY24 revenue to $16.89bn, compared to $14.23bn in Q2 FY23.
Microsoft chairman and CEO Satya Nadella said: “We’ve moved from talking about AI to applying AI at scale.
“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.”
Recently, Microsoft was reportedly executing another round of layoffs, impacting 1,900 employees at Activision Blizzard and Xbox.