Earnings Release FY24 Q2
Intelligent Cloud
Revenue increased $4.4 billion or 20%.
• Server products and cloud services revenue increased $4.4 billion or 22% driven by Azure and other cloud services. Azure and other cloud services revenue grew 30% driven by growth in our consumption-based services. Server products revenue increased 3% driven by demand for Windows Server and SQL Server running in multi-cloud environments.
• Enterprise and partner services revenue increased $10 million or 1% driven by Enterprise Support Services.
Operating income increased $3.6 billion or 40%.
• Gross margin increased $3.1 billion or 20% driven by growth in Azure. Gross margin percentage was relatively unchanged. Excluding the impact of the change in accounting estimate, gross margin percentage increased 1 point driven by improvement in Azure, offset in part by the impact of scaling our AI infrastructure.
• Operating expenses decreased $504 million or 8% driven by 9 points of favorable impact from the prior year Q2 charge.
Gross margin and operating income included a favorable foreign currency impact of 2% and 3%, respectively.
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Information contained in these documents is current as of the earnings date, and not restated for new accounting standards
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