The Strategist

Microsoft's loses seven percent of net income for the first nine months

04/26/2023 - 09:52

IT behemoth Microsoft Corp. said that its net income for the first nine months of its fiscal 2022–2023 year, which ended on March 31, 2023, decreased 6.6 percent year over year to $52.28 billion.

Raimond Spekking
Raimond Spekking
The three quarters' combined revenue rose 6.4% year over year to $155.726 billion. For the period, diluted earnings per share decreased to $6.99 from $7.41 a year earlier.

In the third quarter of the fiscal year, the company's net income increased 9.4 percent year over year to $18.299 billion. In comparison to the projection of $51.12 billion, revenue increased 7.1% to $52.857 billion, and diluted earnings per share increased from $2.22 to $2.45 for the three months under consideration.

More than 40% of the company's total revenue comes from the Intelligent Cloud segment, and revenue there increased 16.3% year over year to $22.081 billion in the third quarter. The Productivity and Business Processes unit increased by 10.9% to $17.516 billion. The business anticipates sales from the Intelligent Cloud of $23.6 billion to $23.9 billion, and revenue from Productivity and Business Processes of $17.9 billion to $18.2 billion for the fourth quarter.