Wednesday, April 30, 2025 4:01:48 PMEST

- Operating margin (calculated) 45.6% v 44.6% y/y
- Cost of Rev $21.9B v $18.5B y/y
- Productivity and Business Processes Rev $29.9B, +10% y/y, +13% cc
- Cloud Rev $42.4B, +22% y/y (cc) v $42.2Be
- Intelligent Cloud Rev $26.8B v $26.2Be, +21% y/y, +22% cc v 18.2%e
- More Personal Computing $13.4B, +6.0% y/y, +7.0% cc
- Commercial bookings +18% y/y v +67% q/q (slowest pace since Q4 2024)
- Azure revenue +33% y/y, +35% y/y (cc) v +30.9%e (Azure growth attributable to AI 16ppts v 15.6e and 13ppts q/q)
- Server products and cloud services revenue +24% y/y
- Xbox content and services +9% y/y (cc)
- LinkedIn revenue +8% y/y (cc)
- Search advertising Rev (ex-traffic acquisition costs) +21% y/y, +23% cc

- Net cash from operations $37B v $31.9B y/y

- Capex (Additions to Property and Equipment) $21.4B v $15.8B q/q

- CEO: Cloud and AI are the essential inputs for every business to expand output, reduce costs, and accelerate growth," said Satya Nadella, chairman and chief executive officer of Microsoft. "From AI infra and platforms to apps, we are innovating across the stack to deliver for our customers." "We delivered a strong quarter with Microsoft Cloud revenue of $42.4B, up 20% (up 22% in constant currency) year-over-year driven by continued demand for our differentiated offerings