Microsoft rides the cloud, Office and Windows to sustained growth in Q3 2022

microsoft logo stock

Microsoft’s third quarter 2022 financial results are here, and the company’s posting double-digit growth yet again: revenue of $49.4 billion and net income of $16.7 billion. Revenue is up 18 percent, and that profit represents an 8 percent jump year over year. Microsoft is crediting a chunk of this quarter’s growth to the cloud with server and cloud services revenue up 29 percent.

There was plenty of reason to suspect Microsoft would still sport a smile this quarter. While the PC industry has started to decline from its pandemic highs, it was flagging Chromebook sales — not Microsoft Windows machines — that were responsible for the entirety of the recent dip. Meanwhile, the Xbox just had its best sales in 11 years, handily beating the r…

Continue reading…

Go to Source
Author: Sean Hollister