Microsoft published results for the third quarter of the year on Tuesday, in which they exceeded expectations in terms of revenue and profit, but revenues from the “cloud business” were lower than expected.
Microsoft provided the following results:
- Income: $50.12 billion,
- Profit: $2.35 per share.
Wall’s expectations were:
- Revenue: $49.6 billion expected versus $45.3 billion last year.
- Adjusted earnings per share: expected $2.31 versus $2.27 in third quarter 2021.
Initially, tensions arose over whether the company’s high-flying “cloud computing” business could offset the expected decline in PC sales.
Microsoft’s Intelligent Cloud business segment, which includes Azure, as well as Windows Server, SQL Server, Nuance and Enterprise Services, generated quarterly revenue of $20.33 billion. That’s up 20 percent, but slightly below the consensus of $20.36 billion.
Revenue from the “More Personal Computing” segment totaled $13.33 billion, down slightly from last year but above the consensus of $13.12 billion. The segment includes Windows, Xbox, Surface and Bing search engine advertising.
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