Microsoft exceeds Wall Street expectations with $24.52 billion in revenue

Microsoft reported its fiscal second quarter earnings on Thursday, noting a record $24.52 billion in revenue for the quarter, beating Wall Street estimates of $23.68 billion. It also noted an earnings per share of 78 cents, above Wall Street estimates of a 68 cents EPS. Microsoft said its devices and consumer business, which will soon be home to Nokia’s own business, reported a revenue of $11.91 billion, up 13 percent over the previous quarter. 

Software giant Microsoft is rising in after-hours trading Thursday afternoon thanks to a better-than expected second quarter fiscal 2014 earnings report that saw revenue and profit well above what the Street was predicting. Microsoft reported $24.52 billion in revenue for the quarter ending December 31, 2013, its second fiscal quarter of 2014. The figure marks a 14% increase over the same time in 2012 and comes in well above the analyst consensus of $23.5 billion in second quarter revenue. The tech company’s operating income came in at $7.97 billion and net income was $6.56 billion, resulting in earnings on a GAAP basis of 78 cents per share. This is significantly higher than the 67 cents per share analysts were predicting for the quarter’s earnings and a 3% increase over the same period in 2012.