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Microsoft Cloud drives record fourth quarter results

Microsoft recently announced the following results for the quarter ended June 30, 2018, as compared to the corresponding period of last fiscal year:

1. Revenue was $30.1 billion and increased by 17%.
2. Operating income was $10.4 billion and increased 35%.
3. Net income was $8.9 billion GAAP and $8.8 billion non-GAAP.
4. Diluted earnings per share were $1.14 GAAP and $1.13 non-GAAP.

Microsoft CEO Satya Nadella says, “We had an incredible year, surpassing $100 billion in revenue as a result of our teams’ relentless focus on customer success and the trust customers are placing in Microsoft.

“Our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation.”

GAAP results include a net benefit of $104 million related to the Tax Cuts and Jobs Act (TCJA) for the three months ended June 30, 2018, and a charge of $306 million related to restructuring expenses for the three months ended June 30, 2017, which are excluded from our non-GAAP results.

Microsoft returned $5.3 billion to shareholders in the form of dividends and share repurchases in the fourth quarter of fiscal year 2018, an increase of 16% compared to the fourth quarter of fiscal year 2017.

Microsoft CFO Amy Hood says, “Exceptional sales execution delivered double-digit revenue growth across all segments and strong progress against our strategic priorities, anchored by commercial cloud revenue growing 53% year-over-year to $6.9 billion.”

Revenue in Productivity and Business Processes was $9.7 billion and increased by 13% compared to the previous year.

Dynamics products and cloud services revenue increased 11% (up 8% in constant currency) driven by Dynamics 365 revenue growth of 61% (up 56% in constant currency).

Revenue in Intelligent Cloud was $9.6 billion and increased by 23%.

Server products and cloud services revenue increased 26% (up 24% in constant currency) driven by Azure revenue growth of 89% (up 85% in constant currency).

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