Microsoft Corp (MSFT) announced its first quarter results, and they are impressive. The Redmond, Washington-based tech giant reported growth in all its divisions. Microsoft’s cloud division posted excellent results, although there was growth across every business process. The company began its fiscal year with a solid start, and the cloud division saw a huge increase in growth compared with the same quarter a year ago.
According to Microsoft’s FY25 Q1 earnings release, revenue was $65.6 billion, a 16 percent increase from the corresponding period of last fiscal year. The tech giant said operating income for the first quarter was $30.6 billion, an increase of 14 percent from the same quarter a year ago.
The tech company’s press release also said that net income for the quarter was $24.7 billion, an 11 percent increase year over year. Diluted earnings per share stood at $3.30, a 10 percent increase compared with the same quarter in the last fiscal year.
Microsoft reported $24.1 billion in Intelligent Cloud revenue, with a 20 percent increase. The software and hardware company beat all analysts’ estimates polled by LSEG and StreetAccount.
Microsoft also saw a boost to the growth of its gaming division. In October 2023, the tech giant acquired legendary game maker Activision Blizzard. In the first quarter of the fiscal year, the tech giant reported $5.6 billion in revenue, a 44 percent increase.
Many web fans joined in the quarter “across devices and on the Xbox platform,” as Satya Nadella, the CEO of Microsoft, said.
As of Wednesday’s close, the tech giant was up 15 percent for the year. CWEB and other analysts remain bullish about Microsoft’s share price increasing in the future and maintain a Buy Rating for the stock.
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