Microsoft reports Q3 results with net income, revenue increases

SAN FRANCISCO, April 25 (Xinhua) -- Microsoft posted on Thursday its revenue of 61.9 billion U.S. dollars for the third quarter of the 2024 fiscal year ending March 31, up 17 percent from the same period last year.

The company generated a quarterly net income of 21.9 billion dollars, an increase of 20 percent year on year, and its diluted earnings per share went up 20 percent to 2.94 dollars. Its operating income was 27.6 billion dollars and increased 23 percent, Microsoft said in its financial report for the third quarter of fiscal 2024.

The company's revenue in Productivity and Business Processes was 19.6 billion dollars, an increase of 12 percent; revenue in Intelligent Cloud was 26.7 billion dollars and increased by 21 percent; and revenue in More Personal Computing was 15.6 billion dollars, a 17 percent decrease year on year.

Microsoft returned 8.4 billion dollars to shareholders in the form of share repurchases and dividends in the quarter, compared to 9.7 billion dollars in the same period of fiscal 2023.

"Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry," said Satya Nadella, chairman and chief executive officer of Microsoft.

"This quarter Microsoft Cloud revenue was 35.1 billion U.S. dollars, up 23 percent year over year, driven by strong execution by our sales teams and partners," said Amy Hood, executive vice president and chief financial officer of Microsoft.