Microsoft once again came through with a solid quarterly financial report. For its fiscal year fourth quarter 2024 time period that ended on June 30, Microsoft had $64.7 billion in revenue. That is up 15 percent compared to the $56.2 billion it made in the same period a year ago.
Net income for the quarter was $22 billion. That was up by 10 percent compared to the $20.1 billion in net income Microsoft got from the same period a year ago. Both of these numbers also beat the expectations of financial analysts, according to CNBC.
Normally, Microsoft"s stock price is expected to be higher in after-hours trading. However, CNBC reports that shares are down by over 5 percent as of this writing. That"s because Microsoft stated that revenues from Azure and other cloud services went up by 29 percent during the quarter. While that"s a pretty huge amount, CNBC claims financial analysts were expecting a growth of 31 percent for those services.
Revenues from the company"s Productivity and Business Processes divisions were $20.3 billion for the quarter, up by 11 percent from the same period a year ago.
Revenues from Microsoft"s More Personal Computing divisions were $15.9 billion for the quarter, up by 14 percent from a year ago. In that division, Windows revenue saw an increase of 7 percent. Xbox revenues were up by 61 percent, but the acquisition of Activision Blizzard in October 2023 was the main reason, with "58 points of net impact".
Devices remain a sore spot for Microsoft. Revenues from that division went down by 11 percent. Microsoft just launched its consumer Surface Laptop 7 and Surface Pro 11 PCs in the last few days of the fiscal quarter. We may have to wait until the next quarter to find out anything about the sales of those PCs.