Microsoft posts strong quarterly revenue of $49.4 billion thanks to cloud and Windows

Microsoft has announced its quarterly results. The most recent quarter formed the third quarter of fiscal 2022, which ended on March 31, 2022. The company reported a very strong quarter as revenue grew in nearly every area.

Microsoft’s revenue for the quarter was $49.4 billion, a significant increase of 18% from the same period in the previous fiscal year. Likewise, operating income grew 19% to $20.4 billion, with net income reaching $16.7 billion, or 8% GAAP (13% non-GAAP).

Specifically, Productivity and Business Process revenue was $15.8 billion, up 17%. This was driven by a 12% increase in office commercial products and an 11% increase in office consumer products and cloud services. The total number of Microsoft subscribers for 365 consumer products now also stands at 58.4 million, which is no small feat. LinkedIn revenue grew 34%, and Dynamics products and related cloud services also grew 22%.

On the Intelligent Cloud side, revenue was $19.1, up 26%. This was primarily due to growth in Windows Server products and Azure services of 29% and 46% respectively.

Finally, in personal computing, Microsoft reported revenue of $14.5 billion, up 11%. This was driven by revenue growth from Windows OEM (11%), Windows Commercial (14%), Xbox content and services (4%), search and news advertising (23%) and even Surface (13%) - historically the Always struggling.

Overall, diluted earnings per share were $2.22, up 9% (GAAP). Likewise, $12.4 billion was returned to shareholders through dividends and stock buybacks.

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