Microsoft reported a net profit of US$ 36.6 billion, equivalent to about R$ 197.8 billion, in the last quarter, representing a 32% increase compared to the same period last year. The company's total revenue reached US$ 92.3 billion, corresponding to approximately R$ 498.4 billion, marking a 19% growth, which is mainly attributed to the artificial intelligence (AI) and cloud services segments.
The results, referring to the period ending on September 30th, were released this Wednesday (28). The corporation exceeded market projections in terms of both revenue and earnings per share. Diluted earnings per share was US$ 4.92 (R$ 26.34), surpassing the estimate of about US$ 4.72 (R$ 25.27).
Additionally, operating income reached US$ 45.9 billion (approximately R$ 247.9 billion), a 21% year-over-year growth. Adjusted net income, which excludes Microsoft's investments in OpenAI, was US$ 36.4 billion (approximately R$ 196.6 billion), an 18% increase.
Amy Hood, the company's CFO, stated in the earnings release that the company achieved a strong start to the fiscal year, with Microsoft Cloud revenue reaching US$ 63.9 billion and a growth acceleration to 30% year-over-year.
The progress in the cloud area occurs parallel to significant investments in equipment and data centers. In this quarter, Microsoft's capital expenditures, including assets acquired through financial leases, totaled US$ 45.2 billion (about R$ 244.1 billion). This amount was below the company's initial forecast, which pointed to expenditures exceeding US$ 50 billion (approximately R$ 270 billion) for the period.
Such investments are crucial for maintaining the expansion of infrastructure necessary for cloud computing and AI services. The market closely monitors the volume of resources dedicated to equipment and data centers to assess the inherent costs of this expansion.
Microsoft also emphasized the implementation of AI tools and the development of solutions targeted at businesses. Satya Nadella, CEO, stated that the company's goal is to increase the options and control available to customers while strengthening the security of AI agents.
Microsoft's results structure began to be presented in two large units: Agents and Infra, which encompasses business related to infrastructure and corporate services, and Devices and Consumer, focused on products and services for the end consumer.
The Agents and Infra division generated revenue of US$ 76.8 billion (about R$ 414.7 billion), with a 25% growth compared to the same period last year. This area covers not only the cloud but also commercial services and AI-related products. Microsoft 365 commercial cloud revenue grew 17% on a reported basis, as did consumer cloud revenue, which advanced by 17%.
Conversely, the Devices and Consumer division recorded revenue of US$ 15.5 billion (approximately R$ 83.7 billion), representing a 3% decrease year-over-year. Among the negative points, revenue from Windows OEM licenses and devices suffered a 22% drop. Xbox services and content decreased by 2%, although search and advertising revenue, excluding traffic acquisition costs, grew by 12%.
The data shows that the advancement in cloud infrastructure and enterprise services contrasts with challenges faced in certain more traditional areas of the company's portfolio. Furthermore, Microsoft returned US$ 10.2 billion (about R$ 55.1 billion) to shareholders during the quarter, through dividends and share buybacks. This move occurred in a context of revenue and profit expansion, accompanied by considerable investments in computing infrastructure.
The results do not just signal growth in financial indicators; they also indicate a shift in the composition of businesses, with greater relevance given to enterprise services and the cloud. The main challenge for the coming quarters will be maintaining the pace of expansion of Azure and other AI products, while the company expands its computational capacity and manages the costs of this strategy.