Microsoft has joined the likes of Apple and avoided a loss in revenue for its first quarter of the financial year.
The company came out relatively unscathed from the quarter as the pandemic continues and the Ukraine Russian war continues.
The tech giant’s revenue was US$49.4 billion and increased by 18 percent, its operating income was $20.4 billion and increased by 19 percent and net income was US$16.7 billion and increased by 8 percent GAAP (up 13 percent. non-GAAP).
Diluted earnings per share was $2.22 and increased 9 percent GAAP (up 14 percent non-GAAP).
Satya Nadella, chairman and chief executive officer of Microsoft said, “Going forward, digital technology will be the key input that powers the world’s economic output.
“Across the tech stack, we are expanding our opportunity and taking share as we help customers differentiate, build resilience, and do more with less.”
Amy Hood, executive vice president and chief financial officer of Microsoft said, “Continued customer commitment to our cloud platform and strong sales execution drove better than expected commercial bookings growth of 28 percent and Microsoft Cloud revenue of US$23.4 billion, up 32 percent year over year.”
In different parts of the company, productivity and business processes revenue came in at US$15.8 billion and increased 17 percent. Revenue in Intelligent Cloud was US$19.1 billion and increased 26 percent. Personal computing revenue for the quarter came in at S$14.5 billion and increased 11 percent.
Server products and cloud services revenue increased 29 percent driven by Azure and other cloud services revenue growth of 46 percent.