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Microsoft Beats Earnings Expectations

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Microsoft Beats Earnings Expectations

Quarterly report shows strong revenue and earnings per share

Security is a team sport, says Microsoft executive

Microsoft Corporation (MSFT) announced its quarterly earnings after the closing bell on Tuesday, beating analysts' expectations on revenue and earnings per share.

The company reported revenue of $51.9 billion for the quarter, up 12% year-over-year. Net income was $18.8 billion, up 11%. Earnings per share were $2.23, beating analysts' estimates of $2.19.

"We had a strong quarter, with revenue growth across all of our businesses," said Microsoft CEO Satya Nadella. "Our commercial cloud revenue grew 30%, driven by strong demand for our Azure cloud platform and our Office 365 productivity suite."

The company's cloud business is a key driver of growth, and Microsoft is continuing to invest heavily in this area. In the past quarter, the company announced a new partnership with Adobe to integrate Adobe Experience Cloud with Microsoft Copilot. This will allow businesses to connect their customer data and marketing campaigns with Microsoft's AI-powered productivity tools.

"Security is a team sport," said Judson Althoff, Microsoft's Executive Vice President of Worldwide Commercial Sales. "This is the culture we need everywhere."

Microsoft's strong earnings report is a sign that the company is well-positioned to continue to grow in the future. The company's cloud business is a key driver of growth, and Microsoft is continuing to invest heavily in this area. The company's focus on security is also a key differentiator in the market.

**Editor's note: April 23, 2024** The quotation from Judson Althoff was updated following initial publication.

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