Microsoft Posts Net Profit of $36.6 Billion and Offers Voluntary Severance Package to 60,000 Employees

Microsoft announced results for the quarter ending September 2024, with revenue rising 19% year-over-year to $92.3 billion, while net profit exceeded $36.6 billion. Microsoft Cloud revenue jumped 30% year-over-year.

In parallel, the company announced its intention to offer a voluntary departure package to approximately 60,000 employees in Canada, India, Britain, and the United States, which includes financial support and career planning resources. Microsoft employs more than 220,000 employees worldwide.

Chief Executive Officer Satya Nadella said that artificial intelligence development efforts "are accelerating technology adoption and creating real impact across different sectors." The company's stock rose approximately 2.9% in after-hours trading in New York.

By contrast, Alphabet's results were disappointing: its quarterly net profit contracted 25% compared to the same period last year, with its stock falling 9.75% following the announcement. Amazon, Meta, and Alphabet combined are expected to spend more than $700 billion on artificial intelligence infrastructure during the current year.