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Microsoft shows strong profit growth, but cloud forecasts overshadow success


Júl, 31 2024
watermark Economic news

IT giant Microsoft ended the 2023-2024 fiscal year (June 30) with an impressive 21.8% ($88.136 billion) increase in net profit. Diluted earnings per share amounted to $11.8, which is 22% higher than last year. The company's total revenue increased by 15.6% and reached $245.122 billion. 


In the fourth quarter of the fiscal year, net income increased by 9.7% to $22.036 billion, and diluted earnings per share amounted to $2.95 (an increase of 9.8%). Revenue for the quarter was $64.727 billion, exceeding the forecast of $64.38 billion. 


The Intelligent Cloud division, responsible for cloud services, showed revenue growth of 18.8% to $28.515 billion. However, this figure did not reach the forecast of $28.68 billion. Revenue from the Productivity and Business Processes division, which deals with office software, increased by 11.1% to $20.317 billion. Revenue growth of the Azure cloud service for the quarter was 29%. 


Despite the positive results, Microsoft shares fell by almost 6% after the close of trading in the United States.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.