Summary by Futu AI
On July 30, 2024, Microsoft Corporation released its financial results for the fiscal quarter and year ending June 30, 2024. The report highlighted a 15% increase in quarterly revenue to $64.7 billion and a 10% increase in net income to $22.0 billion. The earnings per share also rose by 10% to $2.95. For the fiscal year, Microsoft reported a 16% revenue increase to $245.1 billion, with operating income and net income rising by 24% and 22%, respectively. The company's strong performance was attributed to the growth in its cloud services, with Microsoft Cloud quarterly revenue reaching $36.8 billion, a 21% increase year-over-year. Productivity and Business Processes, Intelligent Cloud, and More Personal Computing segments all experienced growth, with notable increases in Office 365 Commercial revenue, LinkedIn revenue, and Azure cloud services. The report also mentioned that Microsoft returned $8.4 billion to shareholders through share repurchases and dividends in the fourth quarter. Additionally, the company provided forward-looking guidance during its earnings conference call and webcast.