Microsoft increases its revenue for the first quarter of the year by 27% and earns 22,291 million dollars more

2023-10-25 00:20:40

The technology giant Microsoft announced this Tuesday a profit of 22,291 million dollars in the first quarter of its fiscal year 2024, up 27% year-on-year, driven largely by its intelligent cloud business.

The company reported a turnover of 56,517 million dollars in the three months ended September 30, 13% higher than the same period of the previous year, and the Microsoft Cloud segment alone brought in 31.8 billion (24% more), the company indicated in a statement.

“We are rapidly injecting Artificial Intelligence (AI) into every layer of technology and in every role and business process to drive improved productivity for our clients,” said the firm’s top executive, Satya Nadella, in the note.

Microsoft closed fiscal year 2023 with a net profit of $72,361 milliona very slight decrease, but in the quarter prior to the one reported today the accounts were already increasing the pace thanks to the cloud and the Azure service, which is once again one of the growth drivers.

In the breakdown released today, Azure, which has been operating at idle for two years, is the fastest growing servicewith 29% more revenue, although the company does not disclose absolute figures.

Azure is part of the Intelligent Cloud unit along with other services such as GitHub or SQL Server, which together brought in $24.26 billion, 19% more.

The Productivity and Business Processes unit -which includes Office software and LinkedIn, among other things – earned 13% morewhile Personal Computing, which includes Windows, the sale of devices and the Xbox video game console, entered 3% more.

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In this last unit is the only apparent shadow in Microsoft’s businesses: the devices (hardware) segment, previously central, and which In this quarter, collections fell 22%.

The results, published at the close of Wall Street, exceeded analysts’ expectations and the company’s shares rose 4% in electronic trading. Since the beginning of 2023, the stock market has appreciated 38%.