Microsoft records $211.9bn revenue in FY23, stock sinks 3.76%

July 27, 2023 (MLN): Microsoft Corp. (NASDAQ: MSFT) reported its earnings for the fiscal year ended June 30, 2023, wherein the revenue clocked in at $211.9 billion, up 7% YoY from the previous year.

The company's stock slid 3.76% in Wednesday's trading session after the earnings release.

Similarly, for the second quarter of 2023 alone, revenue stood at $56.2bn [EPS: $2.69], up 8% YoY and beating analysts’ estimates of $55.49bn.

Going by the latest earnings report made available by MSFT on Tuesday after the market close, operating income came in at $88.5bn GAAP and increased by 6% YoY.

Net income decreased slightly to $72.4bn GAAP.

Diluted earnings per share increased slightly to $9.68 GAAP.

GAAP results include the Q2 charge, a $1.2bn negative impact to operating income.

“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.

Copyright Mettis Link News