Microsoft Corporation (MSFT) - strong results for October-December 2023

February 3, 2024

In Ukraine, the scale of Microsoft's activities remains relatively small, the turnover of the local representative office in 2022 was about UAH 300 million.

Microsoft released financial results for the second quarter of fiscal year 2024 (October - December 2023).

The group's revenue in the reporting quarter amounted to $62 billion, an increase of 18% compared to the corresponding period of the previous financial year and exceeding analysts' expectations (on average - $61 billion), operating profit - $27 billion (+33%), net profit - $21.9 billion ( +33%).

As for the segments, the revenue of the Productivity and Business Processes segment in the reporting quarter increased by 13% compared to last year to $19.2 billion, the Intelligent Cloud segment by 20% (to $25.9 billion), More Personal Computing by 19% (to $16.9 billion). So the main driver of the company's revenue growth in the reporting period was the cloud service business.

Linkedin revenue increased by 9% in the reporting quarter.

In the press release for the published financial results, the Microsoft CEO notes that the company has moved from talking about artificial intelligence to actively implementing and scaling this technology.

As of February 2, 2024, the market cap of Microsoft Corporation was $3.06 trillion - as of the current moment, Microsoft is the largest company in the world by market capitalization.

The group's equity (book value) as of December 31, 2023 was $238 billion, debt - about $150 billion, cash (including short-term investments) - $81 billion.

Microsoft Corporation's operating cash flow in the reporting period amounted to almost $19 billion, of which $5.6 billion was used to pay dividends, $4 billion to repurchase shares from the market.

As for the latest financial results of Microsoft Ukraine, in 2022 the company's turnover was UAH 300 million (almost unchanged compared to the previous year), net profit was UAH 6 million.

As of December 31, 2022, the amount of cash on Microsoft Ukraine's balance sheet was UAH 87 million, total assets UAH 217 million, equity UAH 153 million.

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