Jean-Luc Ichard
Microsoft (NASDAQ:MSFT) shares rose around 4% in extended hours as the tech giant reported fiscal third-quarter results that topped expectations.
For the period ending March 31, Microsoft (MSFT) earned $2.94 as sales rose 17% year-over-year to $61.86B. Included in that was $26.7B from its Intelligent Cloud division, which consists of its Azure cloud unit. Microsoft said Azure revenue grew 31% year-over-year and 31% in constant currency.
“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry,” Satya Nadella, chairman and chief executive officer of Microsoft, said in a statement.
The Redmond, Washington-based tech giant also said Personal Computing revenue came in at $15.6B, including the company’s first quarter with Activision Blizzard under its wings. Separately, Productivity and Business processes sales came in at $19.6B, up 12% year-over-year.
Included in Productivity and Business Processes was a 13% year-over-year rise in Office Commercial, while Dynamics 365 saw revenue growth of 19% over the same time frame. LinkedIn, its business-focused social network, had a 10% jump in sales, or 9% in constant currency.
A consensus of analysts expected Microsoft (MSFT) to earn $2.84 per share on $60.89B in revenue.
The company will host a conference call at 5:30 p.m. EST to discuss the results.
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