Microsoft has this week announced its fiscal third quarter (Q3) 2022 results. For anyone looking for a surprise, that is not happening as the details show it is business as usual. Of course, a surprise would be some sort of collapse as business as usual these days is Microsoft thriving through another bumper period of success.
For the period ending March 31, 2022, Microsoft earnings saw revenue increase year-on-year across almost all its business divisions. Total revenue for Q3 stood at $49.4 billion, up 18% from the same period a year ago. As for profit, operating income was $20.4 billion (up 19%), while net income rose to $16.7 billion (+8% GAAP or +13% non-GAAP).
Yes, Microsoft continues to go from strength to strength, but how does this revenue break down across the company?
Well, as you might expect, cloud continues to drive Microsoft's growth. Productivity and Business Processes drew $15.8 billion in revenue, a 17% boost y-o-y. A 12% jump in Office Commercial and 11% uptick in Office Consumer pushed this growth. Microsoft 365 subscribers now total 58.4 million.
Growth Across the Board
Intelligent Cloud also had an excellent Q3, taking $19.1 in revenue, a sizeable 26% increase year-on-year. Windows Server and Azure were the main drivers of the success, seeing increases of 29% and 46%, respectively.
Personal Computing, which is where consumer products like Windows, Xbox, and Surface reside, also did well. This is the one Microsoft division that is more prone to instability quarter-on-quarter. Even so, Microsoft has done well to keep all main areas successful.
For this division, Microsoft took $14.5 billion in overall revenue, up 11% compared to Q3 2021. Most areas – even those that has struggled in the past – saw year-on-year growth: Windows Commercial (+14%), Windows OEM (+11%), Search and News Advertising (+23%), Xbox (+4%), and Surface (+13%).
Looking ahead, Microsoft is forecasting further growth in the next quarter. However, for the fiscal Q4, the company says year-on-year growth is likely to be in the single digits.
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