Cloud Fuels Microsoft's Third Quarter Results
Microsoft had more than satisfying quarter that ended March 31. In its third fiscal quarter, the software giant felt revenue increase of 19% to $41.7 billion.
Operating income in the period was $17.0 billion and increased 31% on annual basis. Net income was $15.5 billion GAAP and $14.8 billion non-GAAP, and increased 44% and 38%, respectively. Diluted earnings per share was $2.03 GAAP and $1.95 non-GAAP, and increased 45% and 39%, respectively.
“Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning,” said Satya Nadella, chief executive officer of Microsoft. “We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform.”
“The Microsoft Cloud, with its end-to-end solutions, continues to provide compelling value to our customers generating $17.7 billion in commercial cloud revenue, up 33% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.
Revenue in Productivity and Business Processes was $13.6 billion and increased 15% (12% in constant currency), while the revenue in Intelligent Cloud was $15.1 billion and increased 23% (20% in constant currency). More Personal Computing had $13.0 billion revenue with an increase of 19% (16% in constant currency).