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MICROSOFT CORP 8-K Report, Financial Results (Apr 30, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 30, 2025
Period End
April 30, 2025
Security
MSFT
In the record · 2016–202610-K1110-Q328-K106

MSFT filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 106 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Dec ’16Dec ’16
  2. Leadership change8-K · May ’21May ’21
  3. Leadership change8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed April 30, 2025. Cited figures are marked; the original filing is the authoritative source.

Microsoft reported fiscal Q3 2025 results (quarter ended March 31, 2025) that showed strong top- and bottom-line growth driven by its cloud and AI businesses.

Revenue rose 13% year-over-year to $70.1 billiona (15% in constant currency), operating income increased 16% to $32.0 billion, and net income grew 18% to $25.8 billion, with diluted EPS of $3.46, up 18% from $2.94. Microsoft Cloud revenue reached $42.4 billion, up 20%, and Azure and other cloud services grew 33%, making cloud and AI the clear engine of the quarter. Segment performance was broadly positive.

Intelligent Cloud revenue rose 21% to $26.8 billionb, Productivity and Business Processes grew 10% to $29.9 billion, and More Personal Computing grew 6% to $13.4 billion, with Windows OEM and Devices up only 3%. Operating margin for the quarter was roughly 46%. Cash generation remained robust, with operating cash flow of $37.0 billion for the quarter, but capital expenditures on property and equipment reached $16.7 billion, and total property and equipment rose sharply year-to-date, which investors will be watching closely as a driver of future depreciation.

Microsoft returned $9.7 billionc to shareholders through dividends and share repurchases during the quarter. The 8-K furnishes the earnings press release under Item 2.02 and does not include forward-looking guidance, which management said would be provided on the earnings call. Investors should therefore look to that call for outlook on Azure growth, capital spending, and margins.

02—Key points

Key Highlights

  1. Total revenue of $70.1B, up 13% (15% constant currency), with net income of $25.8B up 18%
  2. Operating income of $32.0B, up 16% (19% constant currency), implying roughly 46% operating margin
  3. Diluted EPS of $3.46, up 18% from $2.94 a year earlier
  4. Microsoft Cloud revenue of $42.4B, up 20% (22% constant currency)
  5. Azure and other cloud services revenue grew 33% (35% constant currency), led by Intelligent Cloud revenue up 21% to $26.8B
  6. Quarterly operating cash flow of $37.0B against $16.7B of quarterly capital expenditures on property and equipment
  7. Returned $9.7B to shareholders via dividends and buybacks; no forward guidance included in the 8-K itself

03—Questions

Frequently Asked Questions

  1. How did Microsoft's core business segments perform this quarter?

    Intelligent Cloud led with revenue of $26.8B, up 21%, and operating income of $11.1B. Productivity and Business Processes grew 10% to $29.9B, with Microsoft 365 Commercial cloud up 12% and Dynamics 365 up 16%. More Personal Computing grew 6% to $13.4B, though Windows OEM and Devices grew only 3%.

  2. How much of the growth came from currency effects?

    Foreign exchange was a headwind. Constant currency revenue growth was 15% versus reported growth of 13%, and constant currency EPS growth was 19% versus 18% reported. The constant currency impact reduced revenue by about $1.06B and diluted EPS by $0.05.

  3. Does this filing include guidance for the next quarter or fiscal year?

    No. The press release states that Microsoft would provide forward-looking guidance on its earnings conference call and webcast held the same day. Investors should review the call transcript or presentation for outlook on revenue, margins, and capital expenditures.

  4. What are the main risks highlighted for investors?

    The filing's forward-looking statements cite intense competition, execution risk in cloud and AI investments that may not earn expected returns, cybersecurity and data privacy exposure, AI-related legal and reputational risk, regulatory and antitrust scrutiny, and macroeconomic and currency uncertainty. Capital intensity is also a practical concern, since property and equipment rose from $135.6B at June 30, 2024 to $183.9B at March 31, 2025, and nine-month capital expenditures reached $47.5B.

  5. How strong is Microsoft's balance sheet and cash position?

    Microsoft held $79.6B in cash, cash equivalents, and short-term investments at March 31, 2025, with total debt of roughly $42.9B (long-term debt of $39.9B plus current portion of $3.0B) and no short-term debt. Total stockholders' equity was $321.9B. Nine-month operating cash flow of $93.5B comfortably covered dividends of $17.9B and buybacks of $13.9B.

04—Continue

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