The earnings report is scheduled for release at 4:10 pm ET. It is widely expected that Q1 earnings increased 14% year-over-year to $3.10 per share on revenues of $64.51 billion, which represents a 30% year-over-year growth.
In the fourth quarter, revenues increased to $64.7 billion from $56.19 billion in the same period of 2023. The top line benefitted from strong contributions from the cloud business segment. Net income increased to $22.04 billion or $2.95 per share in the June quarter from $20.08 billion or $2.69 per share in the previous year’s comparable period.