Microsoft: Cloud computing
commschool
"Its Azure and other cloud computing products experienced 29% year-over-year growth. These products generated $22.3 billion, nearly half of Microsoft's fiscal Q1 revenue." - commschool
Tech stalwart Microsoft (MSFT -0.04%) is riding a rocket ship of rising revenue thanks not to its ubiquitous Windows and Office products but rather to cloud computing and AI. In its fiscal first quarter, which ended Sept. 30, the company saw revenue jump 13% year over year to $56.5 billion while net income soared 27% to $22.3 billion.
Its Azure and other cloud computing products experienced 29% year-over-year growth. These products generated $22.3 billion, nearly half of Microsoft’s fiscal Q1 revenue.
The company expects its sales success to continue, forecasting double-digit second-quarter revenue growth across many of its products, including Azure. In the words of Microsoft CFO Amy Hood, “With our strong start to FY24, I am confident that as a team, we will continue to deliver healthy growth in the year ahead driven by our leadership in commercial cloud and our commitment to lead the AI platform wave.”
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