Microsoft attributes quarterly revenue growth to cloud services

According to the latest release from Microsoft Corporation, its annual revenue increased 18% to $198.3 billion when the fiscal year ended June 30, 2022. Quarterly revenue for the last quarter was of $51.9 billion, including 12% year-over-year (YoY) growth.

Full year operating profit was $83.4 billion and increased 19% while quarterly operating profit increased 8% year-on-year and reached $20.5 billion compared to last year.

Net income was $72.7 billion GAAP (up 19%) and $69.4 billion non-GAAP (up 15%) at year-end 2022. net in the last quarter of 2022 was $16.7 billion with an increase of 2%. .

At year end, diluted earnings per share were $9.65 GAAP with a 20% increase and $9.21 non-GAAP with a 16% increase.

Office Commercial products, Office Consumer products and Dynamics products contributed to an overall 13% increase in Microsoft productivity and business process revenue to $16.6 billion.

Revenue from Azure and other cloud services grew 40% and Intelligent Cloud revenue grew 20% to $20.9 billion at the end of June 2022.

“In a dynamic environment, we saw strong demand, gained market share and increased customer engagement with our cloud platform. Commercial reservations grew 25% and Microsoft Cloud revenue reached $25 billion, up 28% year-over-year,” said Amy Hood, Executive Vice President and Chief Financial Officer of Microsoft. “As we begin a new fiscal year, we remain committed to balancing operational discipline with continued investment in key strategic areas to drive future growth.”

Although More Personal Computing revenue increased 2% to $14.4 billion, Windows OEM revenue and Xbox content and services revenue fell 2% and 6% respectively. However, Windows Commercial products and cloud services were able to increase revenue by 6%.

“We see a real opportunity to help every customer in every industry use digital technology to overcome today’s challenges and emerge stronger,” said Satya Nadella, Chairman and CEO of Microsoft. “No company is better positioned than Microsoft to help organizations meet their digital imperative – so they can do more with less.”

Microsoft said in its Press release that in the fourth quarter of fiscal 2022, it returned $12.4 billion to shareholders through share buybacks and dividends, a 19% increase from the fourth quarter of fiscal 2021.

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