Microsoft sees strong first quarter with income and revenue rising

(AWP Alliance News) - Software giant Microsoft reported a strong first quarter on Wednesday, with incomes and revenue rising.

Net income increased to $36.63 billion from $27.75 billion a year earlier. Earnings per share rose to $4.92 from $3.72. Total revenue increased to $92.28 billion from $77.67 billion, driven by growth in service and other revenue.

Amy Hood, executive vice president and chief financial officer of Microsoft, said results exceeded expectations across revenue, operating income, and earnings per share.

"We delivered a strong start to the fiscal year with Microsoft Cloud revenue of $63.9 billion, with growth accelerating to 30% [up 31% in constant currency] year-over-year," Hood said.

Chairman and chief executive Satya Nadella said the company was "delivering greater capability, choice, control, and cost efficiency for customers" across its entire stack.

"By helping organizations build and own their own intelligence, and earning trust through agent safety and security, we are translating our innovation into growing adoption and real-world impact across every industry."

Operating income rose to $45.92 billion from $37.96 billion, while income before income taxes increased to $45.95 billion from $34.30 billion.

Comprehensive income increased to $36.06 billion from $28.33 billion in the prior-year period.

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