MSFT Q2 2025 Earnings — Income Statement Breakdown
For its Q2 2025 period (ending 2024-12-31), MSFT reported revenue of $69.6B, gross profit of $47.8B (68.7% gross margin), operating income of $31.7B, and net income of $24.1B (34.6% net margin). The flow of revenue into costs and profit is visualized below.
What changed
MSFT was profitable; revenue grew 12.3% year over year.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +12.3% | +10.2% | −0.6 pp |
| Quarter over quarter | +6.2% | −2.3% | −3.0 pp |
Consensus estimate data is not available for this report.
MSFT Q2 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $69.6B | 100% |
| Cost of Revenue | −$21.8B | 31.3% |
| Gross Profit | $47.8B | 68.7% |
| Research & Development | −$7.9B | 11.4% |
| Selling, General & Administrative | −$8.3B | 11.9% |
| Operating Income | $31.7B | 45.5% |
| Other Income, net | −$2.3B | 3.3% |
| Income Tax Expense | −$5.3B | 7.5% |
| Net Income | $24.1B | 34.6% |
Source: original SEC filing (filed 2025-01-29). Accession 0000950170-25-010484. Data normalized by EarningsFyi.