Microsoft Q1 earnings top expectations with big cloud, Surface, Xbox growth

Microsoft kicked off the first quarter of its 2021 fiscal year with a bang.

What you need to know


Microsoft released its Q1 earnings for its 2021 fiscal year today.
The company reported $37.2 billion in revenue on earnings of.
That's up 12 percent over the same period last year.
The growth was largely driven by big increases in the cloud, along with surges in Surface and Xbox services.


Microsoft reported its earnings for the first quarter of its 2021 fiscal year, revealing $37.2 billion in revenue. That's up 12 percent from the same period a year ago. It also beats Wall Street expectations, which sat at around $35.7 billion ahead of today's report.

Here are the highlights from the report:



Revenue was $37.2 billion and increased 12%
Operating income was $15.9 billion and increased 25%
Net income was $13.9 billion and increased 30%
Diluted earnings per share was $1.82 and increased 32%



The cloud continues to be a significant driver of Microsoft's growth, accordi...