Published , by Morgan Shaver
Published , by Morgan Shaver
In the Q1 2023 financial results shared by Microsoft (MSFT) today, it was revealed that the company’s earnings beat revenue and EPS expectations. Previously, expectations included share estimates of $2.30 and revenue of $49.6 billion. For Q1 2023, revenue was reported at $50.1 billion, increasing 11 percent from Q1 2022 and up 16 percent in constant currency (CC).
“In a world facing increasing headwinds, digital technology is the ultimate tailwind,” Satya Nadella, Chairman and Chief Executive Officer of Microsoft said in the report. “In this environment, we’re focused on helping our customers do more with less, while investing in secular growth areas and managing our cost structure in a disciplined way."
In addition to revenue being up, operating income also increased by 6 percent (15 percent in CC), while net income decreased by 14 percent (8 percent CC), and diluted earnings per share decreased by 13 percent (7 percent CC).
Other areas of growth include device revenue which was up 2 percent, Microsoft Cloud revenue up an impressive 24 percent, and search and news advertising revenue increasing by 16 percent. Microsoft mentions in its report as well that it returned $9.7 billion to shareholders in the form of share repurchases and dividends in Q1 2023 at a decrease of 11 percent compared to Q1 2022.
For more on Microsoft’s latest earnings, be sure to look over the Q1 2023 report, and check out some of our previous coverage including currency headwinds pushing Xbox content and services revenue down 3 percent from Q1 2022, and where you can listen to the Microsoft (MSFT) Q1 2023 earnings call.