San Francisco, January 31: Microsoft posted $62 billion in revenue and a net income of $21.9 billion during the quarter that ended December 31. Revenue was up 18 per cent and net income increased by 33 per cent. Microsoft completed the acquisition of gaming company Activision Blizzard on October 13, 2023. Xbox content and services revenue increased 61 per cent, driven by 55 points of net impact from the Activision acquisition.

Microsoft said the net impact from the Activision Blizzard acquisition was just over $2 billion in revenue. Microsoft also laid off 1,900 workers in its gaming division earlier this month — primarily affecting Activision Blizzard employees. Revenue in productivity and business processes was $19.2 billion and increased 13 per cent for the quarter. LinkedIn revenue increased 9 per cent. However, devices revenue decreased 9 per cent for the quarter. Google Posts 'USD 307 Billion' Revenue in 2023 and Spends 'USD 2.1 Billion' on Severance and Other Expenses of Over 12,000 Laid Off Employees, Will Spend More 'USD 700 Million' in Q1 2024.

"We’ve moved from talking about AI to applying AI at scale," said Satya Nadella, chairman and CEO of Microsoft. "By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector.” Taylor Swift AI Pictures: Microsoft Introduces More Protection Artificial Intelligence Tools Used To Create Deepfakes of American Singer.

Strong execution by our sales teams and partners drove Microsoft Cloud revenue to $33.7 billion, up 24 per cent year-over-year, added Amy Hood, executive vice president and CFO of Microsoft. Microsoft 365 Consumer subscribers have now reached 78.4 million, nearly 16 per cent up year-over-year.

(The above story first appeared on LatestLY on Jan 31, 2024 11:17 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website