Microsoft Cloud Strength Drives Second Quarter Results
Earnings per share up 27%, revenue up 13%
REDMOND, Wash. – January 30, 2024 – Microsoft Corp. (Nasdaq “MSFT”) today announced financial results for the second quarter of fiscal year 2023, which ended December 31, 2023.
Revenue
Revenue for the quarter was $56.5 billion, up 13% year-over-year and 12% in constant currency. This growth was driven by continued strength in the company’s cloud businesses, including Azure, which grew 31% year-over-year, and Office 365, which grew 18% year-over-year.
Earnings per share
Earnings per share were $2.99, up 27% year-over-year and 26% in constant currency. This growth was driven by the company’s revenue growth and continued cost discipline.
Outlook
For the third quarter of fiscal year 2023, Microsoft expects revenue to be in the range of $57.5 billion to $58.5 billion, and earnings per share to be in the range of $3.05 to $3.15.
“We had a strong second quarter, driven by the continued strength of our cloud businesses,” said Satya Nadella, chairman and CEO of Microsoft. “Our investments in cloud computing, artificial intelligence, and other emerging technologies are paying off, and we are well-positioned to continue to grow in the years to come.”
“Our financial results this quarter reflect the strength of our cloud businesses and the continued demand for our products and services,” said Amy Hood, executive vice president and CFO of Microsoft. “We are confident in our ability to continue to drive growth and innovation in the years to come.”
Microsoft will hold a conference call to discuss its second quarter financial results on January 30, 2023 at 5:30 p.m. ET. The call will be webcast live and recorded. To listen to the webcast, please visit the Microsoft Investor Relations website at: https://investor.microsoft.com/default.aspx.
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