Microsoft Corp. today announced the following results for the quarter ended December 31, 2017:

• Revenue was $28.9 billion and increased 12%
• Operating income was $8.7 billion and increased 10%
• GAAP net loss was $(6.3) billion and non-GAAP net income was $7.5 billion
• GAAP diluted loss per share was $(0.82) and non-GAAP diluted earnings per share was $0.96
• GAAP results include a $13.8 billion net charge related to the Tax Cuts and Jobs Act (TCJA)

"This quarter's results speak to the differentiated value we are delivering to customers across our productivity solutions and as the hybrid cloud provider of choice," said Satya Nadella, chief executive officer of Microsoft. "Our investments in IoT, data, and AI services across cloud and the edge position us to further accelerate growth."The following table reconciles our financial results reported in accordance with generally accepted accounting principles (GAAP) to non-GAAP financial results. Additional information regarding our non-GAAP definition is provided below. All growth comparisons relate to the corresponding period in the last fiscal year.

GAAP results include a net charge of $13.8 billion related to TCJA, which is excluded from our non-GAAP results.

Microsoft returned $5.0 billion to shareholders in the form of share repurchases and dividends in the second quarter of fiscal year 2018.

"We delivered another strong quarter with commercial cloud revenue growing 56% year-over-year to $5.3 billion," said Amy Hood, executive vice president and chief financial officer of Microsoft. "Strong execution from our sales teams and partners is driving growth across our businesses."

Revenue in Productivity and Business Processes was $9.0 billion and increased 25% (up 24% in constant currency), with the following business highlights:

• Office commercial products and cloud services revenue increased 10% (up 10% in constant currency) driven by Office 365 commercial revenue growth of 41% (up 41% in constant currency)
• Office consumer products and cloud services revenue increased 12% (up 11% in constant currency) and Office 365 consumer subscribers increased to 29.2 million
• Dynamics products and cloud services revenue increased 10% (up 9% in constant currency) driven by Dynamics 365 revenue growth of 67% (up 68% in constant currency)
• LinkedIn contributed revenue of $1.3 billion during the quarter with sessions growth of over 20% for the fifth consecutive quarter

Revenue in Intelligent Cloud was $7.8 billion and increased 15% (up 15% in constant currency), with the following business highlights:

• Server products and cloud services revenue increased 18% (up 18% in constant currency) driven by Azure revenue growth of 98% (up 98% in constant currency)
• Enterprise Services revenue increased 5% (up 3% in constant currency) driven by Premier Support Services

Revenue in More Personal Computing was $12.2 billion and increased 2% (up 2% in constant currency), with the following business highlights:

• Windows OEM revenue increased 4% (up 4% in constant currency) driven by OEM Pro revenue growth of 11%
• Windows commercial products and cloud services revenue decreased 4% (down 5% in constant currency) due to the impact of a prior year large deal
• Gaming revenue increased 8% (up 8% in constant currency) driven by Xbox hardware revenue growth from the Xbox One X launch
• Search advertising revenue excluding traffic acquisition costs increased 15% (up 15% in constant currency) driven by higher revenue per search and search volume
• Surface revenue increased 1% (relatively unchanged in constant currency)

Microsoft will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast.