Microsoft Earnings – Q1 2021

·        Revenue was $41.7 billion and increased 19%

·        Operating income was $17.0 billion and increased 31%

·        Net income was $15.5 billion GAAP and $14.8 billion non-GAAP, and increased 44% and 38%, respectively

·        Diluted earnings per share was $2.03 GAAP and $1.95 non-GAAP, and increased 45% and 39%,respectively

·        GAAP results include a $620 million net income tax benefit explained in the Non-GAAP Definition section below

“Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning,” said Satya Nadella, chief executive officer of Microsoft. “We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform.”

“The Microsoft Cloud, with its end-to-end solutions, continues to provide compelling value to our customers generating $17.7 billion in commercial cloud revenue, up 33% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

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Total revenues were $1