Beating analyst estimates, Microsoft has reported $20.5 billion as its Q1 2022 income on revenue of $45.3 billion and $2.71 earnings per share.
“We delivered a strong start to the fiscal year with our Microsoft Cloud generating $20.7 billion in revenue for the quarter, up 36% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft, in a statement.
The overall Intelligent Cloud sector of Microsoft grew 31% with $17 billion in revenue while Azure and other cloud services revenue grew 50%. The Azure revenue growth rate of Microsoft continues to hold steady. Azure revenue grew 48% in Q1 2021 and grew 51% last quarter in Q4 2021.
Driven by Dynamics 365 revenue growth of 48%, Dynamics products and cloud services revenue increased 31%. Microsoft also noted, "strong growth" in Power Apps revenue that managed to rise 202%. Driven by Marketing Solutions growth of 61%, LinkedIn revenue increase by 42%. Dynamics saw overall revenue growth of 38% a year ago and 33% last quarter. Overall revenue in Productivity and Business Processes, which includes Dynamics, Power Platform, Office, and LinkedIn products, was $15.0 billion and increased 22% year-over-year.