Microsoft has released its earnings for the quarter ending June 30th, but this is also the end of Microsoft’s fiscal year as well. For the quarter, Microsoft revenue was up to $38 billion, a 13% increase over the previous year but net income was down 8% from the previous year.
Considering that COVID-19 has pulled the rug out from under the economy, Microsoft posted healthy results.
For the quarter, here are the important numbers:
Overall, Microsoft posted a healthy quarter with nearly all key segments growing in revenue. Considering that many workers are now operating remotely, this falls directly into the wheelhouse of Office 365.
During the quarter, Microsoft stated that Office 365 commercial revenue was driven by seat growth but also increased revenue per user. Meaning, more new users signed up and many customers moved to higher tiers of the service.
And seeing as this is the end of the fiscal year, for 2020, Microsoft had revenue of $143 billion with a net income for the period of $44.3 billion.
At the time of this post, $MSFT was up 1.5% to 211.75.