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

Here are the key highlights.

Microsoft Q1 Financials

Microsoft reported first-quarter revenue of $92.28 billion, up 19% year-over-year. The revenue total beat a Street consensus estimate of $90.66 billion, according to data from Benzinga Pro.

Revenue was broken down into the following two business segments:

• Agents and Infra: $76.8 billion, +25% year-over-year
• Devices and Consumer: $15.5 billion, -3% year-over-year

Within Agents and Infra, Microsoft Cloud revenue was $63.9 billion and up 30% year-over-year. Azure revenue was up 48% year-over-year.

For Devices and Consumer, the OEM and devices segment was down 22% year-over-year, with Xbox also down 2% year-over-year. Search and advertising revenue was up 12% year-over-year and the highlight for Devices and Consumer.

Microsoft reported adjusted earnings per share of $4.89, beating a Street consensus estimate of $4.72.

"Results exceeded expectations across revenue, operating income, and earnings per share," Microsoft Chief Financial Officer Amy Hood said.

What’s Next for Microsoft

The company will provide an updated outlook during its conference call, which you can watch below.

Microsoft CEO Satya Nadella said the company is delivering more options to customers across its "entire stack."

"By helping organizations build and own their own intelligence, and earning trust through agent safety and security, we are translating our innovation into growing adoption and real-world impact across every industry," Nadella said.

Microsoft Stock Price Action

Microsoft shares are up 3.98% at $552.48 in after-hours trading on Wednesday, trading 0.2% below its 52-week high.

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