Microsoft has revealed its financial results for its Q2 2024 fiscal year time period, which ended on December 31, 2023. Revenues were $62 billion, up from $52.7 billion from the same period a year ago. Net income came in at $21.9 billion, compared to the $16.4 billion GAAP and $17.4 billion non-GAAP net income numbers from a year ago.
Microsoft's earnings per share was $2.93 for the quarter, up from $2.20 GAAP and $2.32 non-GAAP earnings from a year ago. CNBC says the numbers beat the estimates of financial analysts.
Microsoft Cloud revenue made up just over half of the company's revenue in the quarter at $33.7 billion, up from $27.1 billion from a year ago. The company also added that the number of its Microsoft 365 Consumer subscribers went up to 78.4 million, up from $63.2 million a year ago.
The company's Productivity and Business Processes division generated $19.2 billion in revenue for the quarter, which was up 13 percent from the same period a year ago. Its intelligent Cloud division made $25.9 billion in revenue, up 20 percent from a year ago.
Microsoft's More Personal Computing division, which includes its Windows, devices, and Xbox divisions, made $16.9 billion in revenues for the quarter. The Xbox division had a huge 61 percent increase in revenue, which was mostly due to the closing of the Activision Blizzard acquisition in October 2023.
Windows revenues went up by 9 percent overall, with Windows OEM revenue up by 11 percent while Windows Commercial products and cloud services revenues went higher by 9 percent from a year ago. However, Device revenues from Microsoft actually went down by 9 percent for the quarter.
Microsoft will hold a conference call with financial analysts later today, where we may learn more about the company's predictions for earnings in the current quarter.
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