Microsoft hits 10 quarters of record-breaking revenue in a row

What happened: Microsoft reported quarterly revenue of $92.3 billion, its 10th consecutive record-breaking quarter, with net income of $36.6 billion. Key numbers: Revenue $92.3 billion, up 19% year over year. Net income $36.6 billion, up 32% GAAP. Microsoft Cloud revenue $63.9 billion, up 30%. Azure $33.2 billion. Microsoft 365 nearly $28 billion. Why it matters: Cloud strength drove the results, while the Devices and Consumer segment declined. Microsoft is spending heavily on capital expenditures to deliver on committed future revenue under existing contracts. Coverage: 3 outlets in 24h

Microsoft reported quarterly revenue of $92.3 billion, its 10th consecutive record-breaking quarter, with net income of $36.6 billion.

Cloud strength drove the results, while the Devices and Consumer segment declined. Microsoft is spending heavily on capital expenditures to deliver on committed future revenue under existing contracts.