Microsoft (MSFT) Q3 earnings 2024 [Video]

Microsoft shares rose as much as 5% in extended trading on Thursday after the software maker issued fiscal third-quarter results that outdid Wall Street’s expectations. 

Here’s how the company did in comparison with the consensus from LSEG: 

• Earnings per share: $2.94 vs. $2.82 expected
• Revenue: $61.86 vs. $60.80 billion expected

Microsoft’s total revenue grew 17% year over year in the quarter, which ended on March 31, according to a statement. Net income, at $21.94 billion, or $2.94 per share, was up from $18.30 billion, or $2.45 per share in the year-ago quarter.

The company’s Intelligent Cloud segment, including the Azure public cloud, Windows Server, Nuance and GitHub, produced $26.71 billion in revenue. That’s up about 21% and more than the $26.26 billion consensus among analysts surveyed by StreetAccount.

Revenue from Azure and other cloud services grew 31%, compared with 30% in the previous quarter. Analysts polled by CNBC had expected 28.8%, while the StreetAccount consensus was 28.6%.

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