NASDAQ$MSFT
Microsoft · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Microsoft's Q2 2023 earnings were announced, showcasing cloud strength amidst a complex economic environment.
Microsoft reported a 2% increase in revenue to $52.7 billion. Microsoft Cloud revenue was $27.1 billion, up 22%. Diluted earnings per share was $2.20 GAAP and $2.32 non-GAAP.
- Revenue increased by 2% to $52.7 billion.
- Microsoft Cloud revenue increased 22% to $27.1 billion.
- GAAP diluted earnings per share decreased 11% to $2.20.
- Non-GAAP diluted earnings per share decreased 6% to $2.32.
Headline financials
Revenue & EPS history
Microsoft · Revenue · Quarterly
$52.7B
Revenue by segment
Microsoft · $82.9B total across 3 segments · Q3 2026
- Productivity and Business Processes$35B—42.2%
- Intelligent Cloud$34.7B—41.9%
- More Personal Computing$13.2B—15.9%
Forward guidance
Microsoft will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.8%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.9%
Avg return
30 days after
63%
47 / 75 earnings
Positive
+12.0%
Q1 2016
Best reaction
-12.1%
Q4 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -0.0% | -3.1% | +6.0% | |
| Q2 2026 | -5.0% | -14.6% | -18.5% | |
| Q1 2026 | +0.2% | -5.0% | -9.1% | |
| Q4 2025 | -2.8% | +2.8% | -1.3% | |
| Q3 2025 | +7.6% | +9.6% | +16.5% | |
| Q2 2025 | -6.2% | -6.8% | -10.3% | |
| Q1 2025 | -5.9% | -5.4% | -2.0% | |
| Q4 2024 | -2.0% | -4.3% | -3.2% | |
| Q3 2024 | -0.7% | -4.8% | +5.2% | |
| Q2 2024 | -3.0% | +0.4% | +1.0% | |
| Q1 2024 | +3.4% | +0.1% | +14.7% | |
| Q4 2023 | -2.1% | -2.0% | -7.3% | |
| Q3 2023 | +4.8% | +9.0% | +15.7% | |
| Q2 2023 | -0.8% | +2.3% | +5.0% | |
| Q1 2023 | -6.4% | -4.6% | +0.1% | |
| Q4 2022 | +3.8% | +8.5% | +7.7% | |
| Q3 2022 | +0.9% | -1.1% | -5.3% | |
| Q2 2022 | +0.1% | +4.0% | -0.6% | |
| Q1 2022 | +4.9% | +7.6% | +9.7% | |
| Q4 2021 | -1.0% | -1.4% | +3.5% | |
| Q3 2021 | -2.7% | -3.6% | -4.7% | |
| Q2 2021 | +1.5% | +1.1% | -0.2% | |
| Q1 2021 | -3.5% | -3.6% | +1.8% | |
| Q4 2020 | -3.0% | -2.3% | +2.0% | |
| Q3 2020 | +5.5% | +5.3% | +7.9% | |
| Q2 2020 | +4.4% | +5.4% | -2.1% | |
| Q1 2020 | +2.6% | +5.7% | +9.7% | |
| Q4 2019 | +0.3% | +2.2% | -0.1% | |
| Q3 2019 | +3.0% | +3.5% | +0.6% | |
| Q2 2019 | +1.4% | +2.7% | +9.3% | |
| Q1 2019 | +0.2% | -3.9% | -4.7% | |
| Q4 2018 | +1.1% | +2.4% | +2.3% | |
| Q3 2018 | +3.8% | +2.9% | +6.6% | |
| Q2 2018 | +1.6% | -5.1% | +0.3% | |
| Q1 2018 | +6.6% | +5.8% | +5.9% | |
| Q4 2017 | -0.1% | +0.4% | -1.9% | |
| Q3 2017 | +0.9% | +2.2% | +3.1% | |
| Q2 2017 | +3.3% | +1.5% | +1.5% | |
| Q1 2017 | +3.7% | +6.0% | +4.9% | |
| Q4 2016 | +3.6% | +4.8% | +6.7% | |
| Q3 2016 | -6.9% | — | — | |
| Q2 2016 | +7.6% | — | — | |
| Q1 2016 | +12.0% | — | — | |
| Q4 2015 | -2.9% | — | — | |
| Q3 2015 | +11.4% | — | — | |
| Q2 2015 | -9.6% | — | — | |
| Q1 2015 | +3.9% | — | — | |
| Q4 2014 | +0.1% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +2.4% | — | — | |
| Q1 2014 | +5.8% | — | — | |
| Q4 2013 | -12.1% | — | — | |
| Q3 2013 | +3.3% | — | — | |
| Q2 2013 | +1.0% | — | — | |
| Q1 2013 | -3.2% | — | — | |
| Q4 2012 | -1.1% | — | — | |
| Q3 2012 | +4.1% | — | — | |
| Q2 2012 | +5.2% | — | — | |
| Q1 2012 | +0.1% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -1.7% | — | — | |
| Q2 2011 | -3.6% | — | — | |
| Q1 2011 | +2.3% | — | — | |
| Q1 2008 | +1.2% | — | — | |
| Q2 2008 | +1.2% | — | — | |
| Q4 2008 | +1.2% | — | — | |
| Q3 2008 | +1.2% | — | — | |
| Q4 2010 | +1.2% | — | — | |
| Q3 2009 | -1.2% | — | — | |
| Q3 2010 | -1.2% | — | — | |
| Q2 2010 | -5.0% | — | — | |
| Q2 2009 | -5.0% | — | — | |
| Q4 2009 | +7.9% | — | — | |
| Q1 2010 | +7.9% | — | — | |
| Q1 2009 | +7.9% | — | — |
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