Pinwan, April 27, Microsoft today released the company’s fiscal 2022 third-quarter earnings report. The report shows that Microsoft’s third-quarter revenue was $49.360 billion, an increase of 18% compared with $41.706 billion in the same period last year, excluding the impact of exchange rate changes (not in accordance with US GAAP), a year-on-year increase of 21%; net Profit was US$16.728 billion, an increase of 8% compared with the net profit of US$15.457 billion in the same period last year, a year-on-year increase of 13% not in accordance with US GAAP, and a year-on-year increase excluding the impact of exchange rate changes (not in accordance with US GAAP) up 17%.
Microsoft’s fiscal third-quarter revenue and earnings per share both beat Wall Street analysts’ expectations, pushing its shares up more than 6% after hours.
Third-quarter results:
revenue
Microsoft’s third-quarter revenue was $49.360 billion, an increase of 18% compared with $41.706 billion in the same period last year, and a 21% increase excluding the impact of currency changes (not in accordance with US GAAP), this performance also beat analyst expectations. According to data provided by Yahoo Finance Channel, 30 analysts had expected Microsoft’s third-quarter revenue to reach $49.03 billion.
Microsoft’s third-quarter product revenue was $17.366 billion, compared with $16.873 billion in the same period last year; services and other revenue was $31.994 billion, compared with $24.833 billion in the same period last year.
By specific business sector:
– Microsoft’s third-quarter productivity and business process segment revenue was $15.789 billion, an increase of 17% compared with $13.552 billion in the same period last year; operating profit was $7.184 billion, compared with $6.029 billion in the same period last year. Within this segment: (1) Office commercial products and cloud services revenue increased by 12% year-on-year, or 14% year-on-year excluding the impact of exchange rate changes; (2) Office personal products and cloud services revenue increased by 11% year-on-year , excluding the impact of exchange rate changes, it increased by 12% year-on-year; (3) LinkedIn revenue increased by 34% year-on-year, excluding the impact of exchange rate changes, it increased by 35% year-on-year; Dynamics products and cloud services revenue increased by 22% year-on-year, Excluding the impact of currency changes, it was a 25% year-on-year increase.
– Microsoft’s third-quarter revenue in the Intelligent Cloud segment was $19.051 billion, compared with $15.118 billion in the same period last year; operating profit was $8.281 billion, compared with $6.425 billion in the same period last year. Within this segment: (1) revenue from server products and cloud services increased by 29% year-on-year, or 32% year-on-year excluding the impact of foreign exchange changes; (2) revenue from other cloud services increased by 46% year-on-year, excluding the impact of foreign exchange changes The impact of currency changes was a 49% year-on-year increase.
– Revenue from Microsoft’s more personal computing business in the fiscal third quarter was $14.520 billion, up from $13.036 billion in the same period last year; operating profit was $4.899 billion, compared with $45.94 in the same period last year. Within this segment: (1) Windows OEM (original equipment manufacturing) revenue increased 1% year-on-year; (2) Windows commercial products and cloud services revenue increased 14% year-on-year, excluding the impact of currency changes, a year-on-year increase of 19% %; (3) Xbox content and service revenue increased by 4% year-on-year, excluding the impact of exchange rate changes, it increased by 6% year-on-year; (4) Search and news advertising revenue (excluding traffic acquisition costs) increased by 23% year-on-year, not Including the impact of exchange rate changes, it increased by 25% year-on-year; (5) Surface revenue increased by 13% year-on-year, excluding the impact of exchange rate changes, it increased by 18% year-on-year.
profit
In the quarter ended March 31, Microsoft’s net profit was $16.728 billion, an increase of 8% compared with the net profit of $15.457 billion in the same period last year; diluted earnings per share were $2.22, compared with $2.03 in the same period last year Compared with an increase of 9%, exceeding analysts’ expectations. According to data provided by Yahoo Finance Channel, 29 analysts had expected Microsoft’s third-quarter earnings per share to reach $2.18 on average.
Excluding certain one-time items (not in accordance with US GAAP), Microsoft’s third-quarter net profit increased 13% compared with the same period last year, or 17% excluding the impact of currency changes. Excluding certain one-time items (not in accordance with GAAP), Microsoft’s third-quarter diluted earnings per share increased 14% compared with the same period last year, or 18% excluding the impact of currency changes.
Additional Financial Information:
Microsoft’s total cost of revenue in the fiscal third quarter was $15.615 billion, compared with $13.045 billion in the same period last year. Among them, the cost of product revenue was $4.584 billion, compared with $4.277 billion in the same period last year; the cost of services and other revenue was $11.031 billion, compared with $8.768 billion in the same period last year.
Microsoft’s third-quarter gross profit was $33.745 billion, compared with $28.661 billion in the same period last year.
Microsoft’s third-quarter research and development spending was $6.306 billion, compared with $5.204 billion in the same period last year; sales and marketing expenses were $5.595 billion, compared with $5.082 billion in the same period last year; general and administrative expenses were $1.480 billion U.S. dollars, compared with $1.327 billion a year earlier.
Microsoft’s third-quarter operating profit was $20.364 billion, an increase of 19% compared with $17.048 billion in the same period last year, or a 23% year-on-year increase excluding the impact of currency changes (not in accordance with US GAAP).
In the fiscal third quarter, Microsoft returned $12.4 billion in cash to shareholders through stock buybacks and dividends, up 25% from a year earlier.
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