Microsoft's Q3 FY24 Earnings: Revenue Up 17%, Cloud Revenue Soars 23%

Key highlights from Microsoft's Q3, FY24 earnings report include:

• Revenue: Grew 17% to $61.9 billion
• Operating Income: Grew 23% to $27.6 billion
• Earnings Per Share: $2.94, up by 20%

Category highlights include:

• Microsoft Cloud Revenue: $35.1 billion, an increase of 23%
• Xbox Content and Services: Increased by 62%
• Azure and Other Cloud Services Revenue: Up by 31%
• Office Commercial Revenue: Grew by 13%
• Dynamics 365: Increased by 23%
• Windows Revenue: Up by 11%
• LinkedIn Revenue: Increased by 10%
• Search and News Advertising Revenue Excluding TAC (Traffic Acquisition Costs): Up by 12%

Using Microsoft Power Platform and Copilot Studio, CINEPLEX has significantly improved its operational efficiency. The impact includes:

• Saving Employees Time: Over 30,000 hours annually in manual processing times have been saved.
• Reducing Ticket Refund Handling Time: From 15 minutes to under a minute.

Satya Nadella, CEO of Microsoft, stated that Microsoft Copilot and Copilot stack are leading the way in a new era of AI transformation. He emphasized that these technologies are "orchestrating a new era of AI transformation, driving better business outcomes across every role and industry."

Amy Hood, CFO of Microsoft, attributed the growth of Microsoft Cloud revenue to "strong execution by our sales teams and partners." She highlighted that the revenue for Microsoft Cloud was $35.1 billion, marking a 23% increase year-over-year.