Microsoft reported its Q1 and records nearly $50B in quarterly revenue!
Beating analyst expectations, as continued growth in Microsoft’s cloud business boosted its quarterly revenue to $49.4 billion, (up 18.2%) with profits of $16.7 billion, (up 8%) beating Wall Street’s expectations with earnings per share of $2.22, as reported by Microsoft
Main highlights from the company’s results for the three months ended March 31
- Microsoft Cloud revenue reached $23.4 billion, up 32% year-over-year.
- Growth in the company’s Office business led to a 17% increase in revenue in Microsoft’s Productivity and Business Processes Division, to $15.8 billion.
- An increase in the Windows Commercial business helped to fuel an 11% increase in revenue in the company’s More Personal Computing division, to $15.5 billion.
- Revenue from search and news advertising topped $2.9 billion, up 22% year-over-year.
- LinkedIn revenue was $3.4 billion, up 34% for the quarter.
- Devices revenue, including the Microsoft Surface hardware business, was up 10% to a total of more than $1.7 billion for the quarter.
Adjusting for the impact of foreign currency exchange rates and the acquisition of Nuance Communications, analysts were expecting the company to post about $2.15 in earnings per share, (compared with the $2.22 that Microsoft reported)
The results come amid a busy week for tech earnings, with Apple, Alphabet and Amazon among the companies reporting their numbers later this week.
Microsoft Q1 Chart
|Three Months Ended March 31,|
|($ in millions, except per share amounts)||Revenue||Operating Income||Net Income||Diluted Earnings per Share|
|2021 As Reported (GAAP)||$41,706||$17,048||$15,457||$2.03|
|Net income tax benefit related to India Supreme Court decision on withholding taxes||–||–||(620)||(0.08)|
|2021 As Adjusted (non-GAAP)||$41,706||$17,048||$14,837||$1.95|
|2022 As Reported (GAAP)||$49,360||$20,364||$16,728||$2.22|
|Percentage Change Y/Y (GAAP)||18%||19%||8%||9%|
|Percentage Change Y/Y (non-GAAP)||18%||19%||13%||14%|
|Percentage Change Y/Y (non-GAAP) Constant Currency||21%||23%||17%||18%|