Microsoft reports $35.7 billion in Q1 2021 revenue: Azure up 48%, Surface up 37%, and LinkedIn up 16%

Microsoft today reported earnings for its first fiscal quarter of 2021, including revenue up 12% to $37.2 billion, net income of $13.9 billion, and earnings per share of $1.82 (compared to revenue of $33.1 billion, net income of $10.7 billion, and earnings per share of $1.14 in Q1 2020). All three of the company’s operating groups saw year-over-year growth.

Analysts had expected Microsoft to earn $35.7 billion in revenue and report earnings per share of $1.54. The company thus easily beat expectations, suggesting some (but not all) units are benefiting from the effects of the pandemic. The company’s stock was up 1.5% in regular trading and flat in after-hours trading. Microsoft returned $9.5 billion to shareholders in the form of share repurchases and dividends during the quarter.