+40%
Azure growth accelerated
Azure revenue grew 40% and Microsoft Cloud reached $49.1B, up 26%. Customers have committed to $392B of future spending (commercial remaining performance obligation, +51%).
Microsoft's revenue rose 18% to $77.7B as Azure grew 40% — but losses on its OpenAI investment held GAAP profit growth to 12%.
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Charts in billions are hard to feel. Here is the same quarter, shrunk down: for every $100 Microsoft took in, this is where it went.
The rows may not add exactly due to rounding.
If you only remember three numbers from this quarter, make it these.
Azure revenue grew 40% and Microsoft Cloud reached $49.1B, up 26%. Customers have committed to $392B of future spending (commercial remaining performance obligation, +51%).
Losses from investments in OpenAI reduced GAAP net income by $3.1B ($0.41 a share). Excluding that (non-GAAP), profit was $30.8B, up 22%, and EPS was $4.13 rather than $3.72.
Microsoft returned $10.7B to shareholders in dividends and share repurchases during the quarter.
Things that make this quarter look different from a normal one — so you don't mistake them for the trend.
The same chart, for every quarter we've covered.