Microsoft Q1 2023 Earnings
Strong Growth for Microsoft
WEB Microsoft Corp. NASDAQ:MSFT closed at $293.75 on Wednesday, up 1.97% from the previous day.
Microsoft Corp. (NASDAQ: MSFT) reported strong growth in its first quarter of fiscal year 2023, with revenue increasing by 18% year-over-year to $52.7 billion. This growth was driven by continued demand for Microsoft's cloud computing services, led by Azure, which saw revenue increase by 39%. Other key growth areas for Microsoft included Office 365, LinkedIn, and Xbox.
The company's net income also increased significantly, rising by 29% to $22.6 billion. This increase was attributed to both revenue growth and cost-cutting measures implemented by the company. Microsoft's earnings per share (EPS) for the quarter came in at $2.23, beating analyst estimates by $0.04.
Overall, Microsoft's strong first-quarter results indicate that the company is well-positioned to continue its growth trajectory in the coming quarters. The company's focus on cloud computing and other high-growth areas is expected to drive continued success going forward.
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