Microsoft Corporation reported a 10% increase in net income for the quarter ending December 31, 2024, reaching $24.1 billion, or $3.23 per share, surpassing Wall Street's expectations of $3.11 per share. The company's revenue for the quarter rose by 12% to $69.6 billion, exceeding the anticipated $68.87 billion.
The growth is largely attributed to Microsoft's significant investments in artificial intelligence (AI). CEO Satya Nadella emphasized the company's commitment to integrating AI across its product lines, stating, "We are making the AI-inflection real through the Microsoft Cloud—the world's first and only AI supercomputer."
The Intelligent Cloud segment, which includes Azure and other cloud services, generated $28.5 billion in revenue, marking a 19% increase year-over-year. However, this was slightly below analyst expectations of $28.9 billion.
In the Productivity and Business Processes segment, encompassing Office products and LinkedIn, revenue grew by 14% to $29.4 billion. The More Personal Computing segment, which includes Windows, Surface devices, and Xbox, remained flat at $14.7 billion.
Looking ahead, Microsoft plans to invest $80 billion in expanding its AI infrastructure in 2025 to meet growing demand. The company anticipates double-digit revenue growth in fiscal 2025, with cloud revenue expected to increase by 28-29% year-over-year in the first fiscal quarter.
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