Microsoft generates $62 billion in revenues in its Q2 2024 fiscal year financial results

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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