Microsoft reports 8% increase in search and news ad revenue in Q2, FY24

Microsoft has reported 8% increase in search and news ad revenue in Q2, FY24, excluding traffic acquisition costs.

In the second quarter ended December 31, 2023, the tech major’s Net income increased 33% on a YoY basis to $21.9 billion. In non-GAAP terms, the same was up 26% and 23% higher in constant currency terms

The company’s revenue was $62.0 billion and increased 18% (up 16% in constant currency) in October-December quarter.·       

Operating income was $27.0 billion and increased 33%.  In non-GAAP terms, the same was up 26%  and 23% higher in constant currency terms

Satya Nadella, chairman and chief executive officer, Microsoft, said, "We’ve moved from talking about AI to applying AI at scale. 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.

Amy Hood, Executive Vice-President and Chief Financial Officer, Microsoft, said, “Strong execution by our sales teams and partners drove Microsoft Cloud revenue to $33.7 billion, up 24% (up 22% in constant currency) year-over-year.”

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