SAN FRANCISCO, Jan. 30 (Xinhua) — Microsoft announced Tuesday its revenue grew 18 percent to 62 billion U.S. dollars in the quarter ending Dec. 31, 2023, tallying its best-ever quarterly revenue for the fifth straight quarter.
The company generated quarterly net profits of 21.9 billion dollars of Generally Accepted Accounting Principles (GAAP), up by 33 percent year-over-year.
Its operating income was 27 billion dollars GAAP, a 33 percent increase year-over-year, Microsoft said in its financial report.
The company’s revenue in Productivity and Business Processes was 19.2 billion dollars, up by 13 percent. Its revenue in Intelligent Cloud was 25.9 billion dollars and increased 20 percent year-over-year.
The Server products and cloud services revenue increased by 22 percent driven by Azure and other cloud services revenue growth of 30 percent. Revenue in More Personal Computing was 16.9 billion dollars and increased by 19 percent, Microsoft said.
“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.”
“Strong execution by our sales teams and partners drove Microsoft Cloud revenue to 33.7 billion U.S. dollars, up 24 percent (up 22 percent in constant currency) year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.
