14 DAY TRIAL // Microsoft has just announced the company’s financial results for the third quarter of the fiscal year 2018, and unsurprisingly, cloud services have once again pushed it to a massive growth.
Revenue for the quarter was $26.8 billion, a 16% percent year-over-year, while the operating income increased no less than 23% to $8.3 billion. The net income also posted an impressive growth of 35% during the quarter to total $7.4 billion.
CEO Satya Nadella has obviously applauded the performance of Microsoft Cloud, as significant growth was recorded in nearly all divisions.
Specifically, revenue in the Productivity and Business Processes unit was $9 billion, up 17% year-over-year, and it’s mostly thanks to Office 365, whose commercial growth increased no more, no less than 42%. The consumer business of Office 365 also improved substantially, and Microsoft now has 30.6 million subscribers.
LinkedIn, the business social network that Microsoft purchased last year, also increased 37% during the quarter.
Cloud, cloud, cloud
The More Personal Computing division improved 13% to $9.9 billion, and Windows OEM revenue itself recorded a growth of 4%. The Surface business performed particularly well to grow 32%, and this perfectly makes sense since performance in the same quarter of the previous year was mostly impacted by the lack of a product refresh.
Gaming revenue also increased, and so did the Windows commercial products and cloud services unit, which posted a growth of 21% in the third quarter of this fiscal year.
Nadella is once again praising the level of innovation happening at Microsoft, and obviously emphasizes that cloud services are the ones getting all the attention these days.
“Our results this quarter reflect the trust people and organizations are placing in the Microsoft Cloud,” said Satya Nadella, chief executive officer of Microsoft. “We are innovating across key growth categories of infrastructure, AI, productivity, and business applications to deliver differentiated value to customers.”