Microsoft
Microsoft's revenue for the fourth quarter of fiscal year 2023 reached $56.2 billion, up 8% year over year, slightly exceeding market expectations. However, this increase is mainly due to the appreciation of the US dollar, and under a constant exchange rate, actual growth has not changed, and the actual growth rate of productivity and smart cloud business is declining.
In terms of profit, Microsoft's operating profit reached 24.3 billion US dollars, an increase of 18% over the previous year, clearly exceeding market expectations.
In the core business, Azure cloud computing's revenue reached $17 billion, up 26% year over year, but after excluding the impact of exchange rates, the growth rate declined by 4 pcts.
In the productivity sector, the company Office 365's revenue reached 10.5 billion US dollars, an increase of 15% over the previous year, but after excluding the influence of the exchange rate, the growth rate declined by 1 pct.
In terms of contract balance, Microsoft's outstanding contract balance was 224 billion, an increase of 19% year over year, but this is the slowest growth rate since 2020. At the same time, the amount of newly signed corporate business contracts decreased by 2% year over year, indicating that the decline in corporate IT spending was more severe than in previous quarters.
In the personal business segment, personal computing revenue reached US$13.9 billion, down 3% year over year, but this was the smallest decline since the previous quarter.
In terms of revenue expectations for the next quarter, Microsoft's expectations are basically the same as this quarter, indicating that the market's expectations for AI to bring significant revenue growth have not been realized. More noteworthy...