Microsoft is here with its quarterly results, ending March 31, 2022. Unsurprisingly, revenue and net income went up significantly.
The numbers reveal that the company’s revenue was $49.4 billion, a major uptick of 18% from the same period in the last fiscal year. Operating income was up by 19% to $20.4 billion, with net income coming in at $16.7 billion, an increase of 8%.
The Productivity and Business Processes unit posted a growth of 17%, with the highlight being LinkedIn’s massive 34% increase. Office was also among the honors, with the company confirming that Microsoft 365 now has some 58.4 million subscribers.
The More Personal Computing division recorded a revenue increase of 11%, or $14.5 billion. Windows OEM revenue also increased 11%, while Surface revenue increased 13%.
Cloud was once again king for Redmond in the third quarter.
Amy Hood, Executive Vice President and Chief Financial Officer for Microsoft:
“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.”
The Intelligent Cloud unit recorded an increase of at least 26% to reach $19.1 billion in revenue, which is not surprising considering that cloud is the growth engine for the Redmond-based technology titan these days.
Azure was, of course, behind this massive growth.
On the Windows Commercial side, products and cloud services jumped 14%, while Xbox content and services revenue grew much more subdued at 4%.
Overall, diluted earnings per share were $2.22, an uptick of 9%. Likewise, $12.4 billion was returned to shareholders through dividends and share repurchases, making for another impressive quarter for the software giant.
Going forward, Microsoft expects single-digit revenue growth in the next quarter due to the impacts of the ongoing war in Ukraine and hiccups in production in China. Gaming revenue may also decline due to these hardware supply issues.
