Second Quarter Results Boosted By Microsoft Cloud Strength
Microsoft has announced results for the quarter that ended December 31, 2022, as compared to the corresponding period of the last fiscal year.
It was revealed that revenue was $52.7 billion and increased by 2% while net income was $16.4 billion GAAP and $17.4 billion non-GAAP, and decreased by 12% and 7%, respectively. Operating income was $20.4 billion GAAP and $21.6 billion non-GAAP, and decreased by 8% and 3%, respectively, and diluted earnings per share were $2.20 GAAP and $2.32 non-GAAP, and decreased by 11% and 6%, respectively.
“The next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform,” said Satya Nadella, chairman and chief executive officer of Microsoft. “We are committed to helping our customers use our platforms and tools to do more with less today and innovate for the future in the new era of AI.”
“We are focused on operational excellence as we continue to invest to drive growth. Microsoft Cloud revenue was $27.1 billion, up 22% (up 29% in constant currency) year-over-year as our commercial offerings continue to drive value for our customers,” said Amy Hood, executive vice president & chief financial officer of Microsoft.