Microsoft Q1 Earnings Highlights: 'AI-Driven Transformation Is Changing Work,' Company Beats Revenue, EPS Estimates

Technology giant Microsoft Corporation (NASDAQ:MSFT) reported first-quarter financial results after market close Wednesday.

Here are the key highlights.

What Happened: Microsoft reported first-quarter revenue of $65.60 billion, up 16% year-over-year. The total beat a Street consensus estimate of $64.51 billion according to data from Benzinga Pro.

The company reported first-quarter earnings per share of $3.30, beating a Street consensus estimate of $3.09 per share.

Microsoft's operating income was $65.6 billion in the first quarter, up 14% year-over-year.

"AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process,” Microsoft CEO Satya Nadella said.

Revenue by segment was:

Productivity and Business Processes: $28.3 billion, up 12% year-over-year

Intelligent Cloud: $24.1 ...