Microsoft Q2 Earnings
- Gaargi Bora
- Sep 22, 2024
- 1 min read
Microsoft Copilot
Microsoft reported successful second-quarter results on January 30th, 2024, highlighting strong growth for Azure. The software maker also acquired video game maker Activision Blizzard during this quarter.
Revenue increased 17.6% year over year in the quarter, meaning revenue is 17.6% higher in the recent quarter compared to the second quarter last year.
Business highlights included sufficient growth in the sector of productivity and business processes. Office 365 Commercial revenue grew 17% while Microsoft 365 Consumer subscribers grew to 78.4 million, driving Office Consumer products revenue to increase by 5%. LinkedIn revenue grew 9%, with record engagement, and Dynamics 365 revenue grew 27%.
Total revenue in the intelligent cloud grew 20%, primarily driven by Azure. Microsoft Azure and other cloud services revenue grew 30% driven by strong demand for AI services. “Strong execution by our sales teams and partners drove Microsoft Cloud revenue to $33.7 billion, up 24% (up 22% in constant currency) year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.
During this quarter, the software maker acquired video game maker Activision Blizzard (“Activision”). Xbox content and services revenue increased 61% (up 60% in constant currency) driven by 55 points of net impact from the Activision acquisition.
“We’ve moved from talking about AI to applying AI at scale,” said Satya Nadella, chairman and chief executive officer of Microsoft. “By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector.”
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