Microsoft
Microsoft Fiscal Year 2024 Third Quarter Earnings Conference Call
Microsoft Cloud Strength Drives Second Quarter Results
WEB April 25, 2024 2:30 PM - PT
Greetings and welcome to the Microsoft fiscal year 2024 third quarter earnings conference call. Today's call is being webcast live and recorded. If you ask a question, it will be included in our live transmission. You can replay the call and view the transcript on the Microsoft Investor Relations website.
Microsoft Cloud's strength continues to drive our overall financial performance, with commercial bookings growing 25% year over year. Our commercial cloud revenue grew 33% year over year, driven by strong demand for our Azure, Dynamics 365, and Microsoft 365 offerings. We are seeing customers of all sizes and industries adopt our cloud platform to accelerate their digital transformation journeys.
Our Intelligent Cloud segment revenue increased 20% year over year to $20.3 billion. Azure revenue grew 40% year over year, driven by strong demand for our compute, storage, and networking services. We are also seeing continued growth in our hybrid cloud offerings, which provide customers with the flexibility to deploy applications and workloads across on-premises and cloud environments.
Our Productivity and Business Processes segment revenue increased 12% year over year to $15.9 billion. Office 365 commercial revenue grew 18% year over year, driven by strong demand for our productivity and collaboration tools. We are also seeing continued growth in our LinkedIn business, which provides customers with access to a global network of professionals.
Our More Personal Computing segment revenue decreased 6% year over year to $12.9 billion. Windows OEM revenue decreased 8% year over year, driven by the decline in the PC market. However, we are seeing strong demand for our Surface devices, which grew 10% year over year.
Overall, we had a strong quarter with revenue of $52.7 billion, up 18% year over year. Our non-GAAP earnings per share were $2.23, up 3% year over year. We are confident in our long-term growth prospects and believe that our continued investment in the cloud will continue to drive shareholder value.
Microsoft
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