Published , by TJ Denzer
Published , by TJ Denzer
With the latest season of earnings results, eyes were on Microsoft today as the massive tech company announced its Q3 2024 earnings results. The company outperformed analyst expectations handily, overcoming on both revenue and earnings-per-share (EPS) metrics, resulting in a solid finish on its latest fiscal quarter.
Microsoft released its Q3 2024 earnings results on its investor relations website today. The company’s revenue finished at $61.9 billion, which was enough to over the $60.8 billion expected by Wall Street. Meanwhile, its EPS ended up at $2.94 per share. That was enough to beat the Wall Street estimates at $2.82 per share, but it was also more than the Earnings Whisper estimates, which ended up at $2.91 per share.
Ultimately, it was a solid quarter for Microsoft, which attributed the wins on its Q3 2024 earnings results to strong performance in its cloud data business and divisions. Microsoft Azure still remains one of the most popular and widespread cloud networks in the world. It contributed substantially to Microsoft’s quarter as well with $26.7 billion coming from its Intelligent Cloud business. Microsoft also cut costs at the beginning of the year by terminating around 1,900 employees from its workforce.
Nonetheless, Microsoft came out ahead once again in Q3 2024 and remains strong heading into its Q4. As we continue to report on further companies’ fiscal quarter finishes, stay tuned for more updates here at Shacknews.