Microsoft's fiscal Q1 2024 revenues were $56.5 billion, up 13 percent from a year ago

Microsoft has just announced its latest financial numbers. The results are for the first quarter of its 2024 fiscal year, which ended on September 30, 2023. According to the numbers, Microsoft's overall revenues were $56.5 billion, up 13 percent compared to the $50.1 billion in revenues it recorded in the same time period a year ago.

Microsoft's press release added that its net income for the last quarter was $22.3 billion, an increase of 26 percent compared to the $17.6 billion in net income it recorded a year ago. Earnings per share for the quarter was $2.99, which again was up 26 percent compared to the $2.35 earnings per share from a year ago. All of these results were also higher than what many financial analysts had predicted.

Stock traders liked the news from Microsoft, as its shares went up by over 13 percent in after-hours trading as of this writing.

Microsoft stated its Intelligent Cloud division brought in $24.3 billion for the quarter, up 19 percent from a year ago. It stated its server products and cloud services revenue went up by 21 percent and its other cloud services saw revenue increases of 28 percent.

The company's Productivity and Business Processes division had $18.6 billion in revenues for the quarter, up 12 percent from the same quarter a year ago. The More Personal Computing group had $13.7 billion in revenues for the quarter, up just 3 percent from a year ago. While the Xbox division's revenues were 13 percent higher, and the Windows revenues were also up by 5 percent, the devices division took a big hit with a 22 percent drop in revenues for the quarter.

Some of the other numbers in Microsoft's report included a note that Microsoft 365 Consumer subscriptions went up by 18 percent to 76.7 million. In its Xbox division, gaming revenues were up 9 percent, and Xbox content and services revenues were up by 13 percent. Microsoft said that increase was due to "growth in first-party content and Xbox Game Pass". However, Xbox hardware revenues were down by 7 percent.

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