Microsoft Corporation Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Performance

  • Q4 revenue reached $46.2 billion, up 21% year-over-year (17% in constant currency).
  • Earnings per share grew 49% to $2.17 (42% in constant currency).
  • Commercial Cloud annual revenue surpassed $69 billion, growing 34% year-over-year.
  • Operating income rose 42%, and operating margins expanded 6 points to 41%.
  • Microsoft returned $10.4 billion to shareholders during the quarter and over $39 billion for FY21.

Business Segment Highlights

Productivity and Business Processes

  • Segment revenue: $14.7 billion, up 25% year-over-year.
  • Office 365 Commercial revenue grew 25%, driven by rising installed base and higher ARPU.
  • Paid commercial seats increased 17% year-over-year.
  • Microsoft 365 Consumer subscriptions grew to 51.9 million, up 22% year-over-year.
  • Dynamics 365 revenue surged 49% year-over-year, marking acceleration for the third consecutive quarter.
  • LinkedIn revenue exceeded $10 billion annually for the first time, growing 46% in the quarter.

Intelligent Cloud

  • Segment revenue: $17.4 billion, up 30% year-over-year.
  • Azure revenue increased 51% (45% constant currency), driven by both consumption and per-user services.

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Operator: Greetings, and welcome to the Microsoft Fiscal Year 2021 Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brett Iversen, General Manager of Investor Relations. Thank you. You may begin. Brett Iversen: Good afternoon and thank you for joining us today. On the call with me are Satya Nadella, Chairman and Chief Executive Officer; Amy Hood, Chief Financial Officer; Alice Jolla, Chief Accounting Officer; and Keith Dolliver, Deputy General Counsel. On the Microsoft Investor Relations website, you can find our earnings press release and financial summary slide deck, which is intended to supplement our prepared remarks during today’s call and provides a reconciliation of differences between GAAP and non-GAAP financial measures. Unless otherwise specified, we will refer to the non-GAAP metrics on the call. The non-GAAP financial measures provided should not be considered as a substitute for or superior to the measures of financial performance prepared in accordance with GAAP. They are included as additional clarifying items to aid investors in further understanding the Company’s fourth quarter performance in addition to the impact these items and events have on the financial results. All growth comparisons we make on the call today relate to

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