Microsoft published it’s financial result for the third quarter of the fiscal year 2022 and it performs better than market expectations. The Windows maker has reported a double-digit growth thanks to increased demand for it’s Cloud services, Office and Windows.
The American software giant’s revenue in the third quarter of 2022 surged by 18% over the same quarter last fiscal year and it’s profit increased to 8% as compared to the corresponding quarter last year. The company reported net revenue of $49.4 billion up from $41.7 billion and a $16.7 billion profit for the quarter ended March 31, 2022. Cloud revenue is up by 32 percent to $23.4 billion and it’s other cloud services and servers revenue saw impressive growth of 29% during the period under review.
The global PC shipment declined during the first three months of 2022 but it has not affected the Microsoft Windows laptop business. The decline in PC shipment is mostly due to a decrease in sales of Chromebook PC as the Covid impact is now almost over in 2022. However, the sales of Windows laptops increased in the first three months of 2022 compared to the last year which also helped Microsoft to achieve record revenue and beat market expectations.
The sale of Xbox has also been impressive due to the release of the Xbox Series X console. Xbox even beats the Sony PlayStation 5 in terms of shipment as PlayStation sales have been impacted by the supply chain issues. Windows and Xbox revenue surged by 11 percent compared to last year, reaching $14.3 billion in the period under review. Xbox even saw it’s best-ever sales in the last eleven years. Windows Sales have also been great as enterprises are adopting the latest generation of windows at a much faster pace, according to the company’s CEO Sataya Nadella.
Here is the snapshot of the financial result of Microsoft for the quarter ended March 31.
The company’s other business which includes LinkedIn and Office services also performs better than expectations. Microsoft Surface devices sales also increased 13 percent during the quarter which is a good sign considering the fact that the company is expecting a drop in sales of it’s surface laptops.
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