Microsoft Corp. today announced the following results for the quarter ended June 30, 2023, as compared to the corresponding period of last fiscal year:

• Revenue was $56.2 billion and increased 8% (up 10% in constant currency)
• Operating income was $24.3 billion and increased 18% (up 21% in constant currency)
• Net income was $20.1 billion and increased 20% (up 23% in constant currency)
• Diluted earnings per share was $2.69 and increased 21% (up 23% in constant currency)

"Organizations are asking not only how - but how fast - they can apply this next generation of AI to address the biggest opportunities and challenges they face - safely and responsibly," said Satya Nadella, chairman and chief executive officer of Microsoft. "We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend, and driving operating leverage.""We delivered a solid close to the fiscal year driven by Microsoft Cloud quarterly revenue of $30.3 billion, up 21% (up 23% in constant currency) year-over-year," said Amy Hood, executive vice president and chief financial officer of Microsoft.

Business Highlights
Revenue in Productivity and Business Processes was $18.3 billion and increased 10% (up 12% in constant currency), with the following business highlights:

• Office Commercial products and cloud services revenue increased 12% (up 14% in constant currency) driven by Office 365 Commercial revenue growth of 15% (up 17% in constant currency)
• Office Consumer products and cloud services revenue increased 3% (up 6% in constant currency) and Microsoft 365 Consumer subscribers grew to 67.0 million
• LinkedIn revenue increased 5% (up 7% in constant currency)
• Dynamics products and cloud services revenue increased 19% (up 21% in constant currency) driven by Dynamics 365 revenue growth of 26% (up 28% in constant currency)

Revenue in Intelligent Cloud was $24.0 billion and increased 15% (up 17% in constant currency), with the following business highlights:

• Server products and cloud services revenue increased 17% (up 18% in constant currency) driven by Azure and other cloud services revenue growth of 26% (up 27% in constant currency)

Revenue in More Personal Computing was $13.9 billion and decreased 4% (down 3% in constant currency), with the following business highlights:

• Windows OEM revenue decreased 12%
• Devices revenue decreased 20% (down 18% in constant currency)
• Windows Commercial products and cloud services revenue increased 2% (up 3% in constant currency)
• Xbox content and services revenue increased 5% (up 6% in constant currency)
• Search and news advertising revenue excluding traffic acquisition costs increased 8%

Microsoft returned $9.7 billion to shareholders in the form of share repurchases and dividends in the fourth quarter of fiscal year 2023.

Fiscal Year 2023 Results
Microsoft Corp. today announced the following results for the fiscal year ended June 30, 2023, as compared to the corresponding period of last fiscal year:

• Revenue was $211.9 billion and increased 7% (up 11% in constant currency)
• Operating income was $88.5 billion GAAP and increased 6%, and $89.7 billion non-GAAP and increased 8% (up 14% in constant currency)
• Net income was $72.4 billion GAAP and decreased slightly, and $73.3 billion non-GAAP and increased 6% (up 11% in constant currency)
• Diluted earnings per share was $9.68 GAAP and increased slightly, and $9.81 non-GAAP and increased 7% (up 12% in constant currency)
• GAAP results include the Q2 charge, a $1.2 billion negative impact to operating income, explained in the Non-GAAP Definition section below

The following table reconciles our financial results for the fiscal year ended June 30, 2023, 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.Business Outlook
Microsoft will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast.

Quarterly Highlights, Product Releases, and Enhancements
Every quarter Microsoft delivers hundreds of products, either as new releases, services, or enhancements to current products and services. These releases are a result of significant research and development investments, made over multiple years, designed to help customers be more productive and secure and to deliver differentiated value across the cloud and the edge.

Here are the major product releases and other highlights for the quarter, organized by product categories, to help illustrate how we are accelerating innovation across our businesses while expanding our market opportunities.