14 DAY TRIAL // Microsoft has revealed its financial results for the third quarter of the fiscal year 2022, and unsurprisingly, both revenue and the net income went up significantly.
Microsoft says its revenue increased 18% to $49.4 billion, while the operating income jumped 19% to $20.4 billion. The net income was $16.7 billion, which represents an increase of 8%.
The Productivity and Business Processes unit managed to post a 17% growth, and the highlight is the massive 34% increase recorded by LinkedIn. Office consumer products also performed very well, with Microsoft claiming Microsoft 365 now has 58.4 million subscribers.
When it comes to the More Personal Computing division, the 11% increase means it recorded $14.5 billion in revenue. Windows OEM revenue increased 11%, while Surface revenue went up 13%.
All-in on the cloud
Microsoft’s CEO Satya Nadella obviously praised the company’s cloud offering.
“Going forward, digital technology will be the key input that powers the world’s economic output,” said Satya Nadella, chairman and chief executive officer of Microsoft. “Across the tech stack, we are expanding our opportunity and taking share as we help customers differentiate, build resilience, and do more with less.”
“Continued customer commitment to our cloud platform and strong sales execution drove better than expected commercial bookings growth of 28% and Microsoft Cloud revenue of $23.4 billion, up 32% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.
The Intelligent Cloud unit therefore recorded an increase of no less than 26% to reach $19.1 billion in revenue, but this isn’t necessarily a surprise given the cloud has been Microsoft’s main growth engine lately. Azure powered this massive growth, the server products and cloud services revenue increased 29%, according to the official numbers.
Windows Commercial products and cloud services jumped 14%, while the growth of Xbox content and services revenue was just 4%.