Microsoft reports $22.3 billion in Q1 2017 revenue: Surface up 38% and Phone down 72%

Microsoft today reported earnings for its first fiscal quarter of 2017, including revenue of $22.3 billion and earnings per share of $0.76. In Q1 2016, Microsoft saw $21.7 billion in revenue and earnings per share of $0.67.

Analysts had expected Microsoft to earn $21.71 billion in revenue and earnings per share of $0.68. In short, the company beat expectations. The company’s stock was down 0.49 percent in regular trading, but up some 5 percent in after-hours trading (expected, given the results). Microsoft said it returned $6.6 billion to shareholders in the form of share repurchases and dividends during the quarter.