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Microsoft reported 2023 Q3 earnings of $52.9 billion, with net income of $18.3 billion and earnings of $2.45 per share, beating average analyst estimates.
Azure and other cloud services revenue grew 27%, while Office Commercial products and cloud services were up 13%, driven by Office 365 Commercial revenue growth of 14%.
Dynamics products and cloud services revenue increased 17% (up 21% in constant currency) driven by Dynamics 365 revenue growth of 25%. LinkedIn revenue increased 8%.
Total revenue in the Productivity and Business Processes segment, which includes both Office 365 and Dynamics, grew 11%. Office 365 Commercial seat growth grew 11%, compared to 16% in 2022 Q3.
In 2022 Q3, Microsoft reported earnings of $2.22 on revenue of $49.4 billion, beating analyst estimates. At that time Azure revenue had risen 46% and Dynamics revenue had risen 22%.
“Focused execution by our sales teams and partners in this dynamic environment resulted in Microsoft Cloud revenue of $28.5 billion, up 22% (up 25% in constant currency) year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft in a statement.
Satya Nadella, Microsoft’s chairman and CEO, stated: “Across the Microsoft Cloud, we are the platform of choice to help customers get the most value out of their digital spend and innovate for this next generation of AI.”
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