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Xbox and cloud help boost Microsoft’s Q1 2024 earnings

Illustration by Alex Castro / The Verge

Microsoft just posted the first quarter of its 2024 fiscal financial results. The software maker made $56.5 billion in revenue and a net income of $22.3 billion during Q1. Revenue is up 13 percent, and net income has increased by 27 percent. Devices revenue has been hit hard again this quarter, even if Windows has recovered slightly. The star of Microsoft’s earnings are cloud services and Office, though.

Windows OEM revenue, the price that PC manufacturers pay Microsoft to put Windows on laptops and PCs, is up 4 percent this quarter. It’s a surprise increase, given we’ve seen a general weakness in PC sales over the past year, with Windows OEM revenue suffering throughout Microsoft’s entire 2023 fiscal year.

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