microsoft

Microsoft Q1 2021 results beat on top and bottom lines with $31.7B in revenue

Microsoft returned $9.5 billion to shareholders in the form of share repurchases and dividends

Microsoft reported fiscal Q1 results today that beat on the top and bottom lines with $31.7B in revenue and $1.82 EPS, which is $0.28 above estimates.

Revenue was $37.2 billion and increased 12%, Operating income was $15.9 billion and increased 25%, Net income was $13.9 billion and increased 30%, while Diluted earnings per share was $1.82 and increased 32%.

Revenue in Productivity and Business Processes was $12.3 billion and increased 11%, with the following business highlights:

  • Office Commercial products and cloud services revenue increased 9% driven by Office 365 Commercial revenue growth of 21% (up 20% in constant currency)
  • Office Consumer products and cloud services revenue increased 13% and Microsoft 365 Consumer subscribers increased to 45.3 million
  • LinkedIn revenue increased 16%
  • Dynamics products and cloud services revenue increased 19% (up 18% in constant currency) driven by Dynamics 365 revenue growth of 38% (up 37% in constant currency)

Revenue in Intelligent Cloud was $13.0 billion and increased 20% (up 19% in constant currency), with Server products and cloud services revenue increased 22% (up 21% in constant currency) driven by Azure revenue growth of 48% (up 47% in constant currency)

Revenue in More Personal Computing was $11.8 billion and increased 6%, with the following business highlights:

  • Windows OEM revenue declined 5%
  • Windows Commercial products and cloud services revenue increased 13% (up 12% in constant currency)
  • Xbox content and services revenue increased 30%
  • Surface revenue increased 37% (up 36%in constant currency)
  • Search advertising revenue excluding traffic acquisition costs decreased 10% (down 11% in constant currency)

Microsoft returned $9.5 billion to shareholders in the form of share repurchases and dividends in the first quarter of fiscal year 2021, an increase of 21% compared to the first quarter of fiscal year 2020.

Satya Nadella, chief executive officer of Microsoft said,

“The next decade of economic performance for every business will be defined by the speed of their digital transformation,”

“We are innovating across our full modern tech stack to help our customers in every industry improve time to value, increase agility, and reduce costs.”

Amy Hood, executive vice president and chief financial officer of Microsoft commented,

“Demand for our cloud offerings drove a strong start to the fiscal year with our commercial cloud revenue generating $15.2 billion, up 31% year over year,”

“We continue to invest against the significant opportunity ahead of us to drive long-term growth.”

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