Windows falls but Azure and LinkedIn up in Microsoft results

Date:
Wed, 27 Jul 2022 13:11:36 +0000

Description:
Microsoft covers decrease in Windows revenue with strong Azure and LinkedIn results.

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Strong performance from its cloud divisions saw Microsoft deliver yet another successful quarter despite struggles for its Windows operations.

The companys $51.9 billion revenue for the quarter leading up to June 30 2022 was up 12% compared with the same period last year, comprising an operating income of $20.5 billion (up 8%) and a net income of $16.7 billion (up 2%). This saw share prices increase by $2.23, slightly missing Wall Streets $2.29 expectation.

Microsoft executive vice president and chief financial officer Amy Hood revealed that commercial bookings grew 25% and Microsoft Cloud revenue was
$25 billion - up 28% year over year. Big year for Microsoft, despite global events

In a press release , Microsoft added how evolving macroeconomic conditions
and other unforeseen circumstances were to blame for some of the companys struggles, including Unfavorable foreign exchange rate movement within the quarter, difficulties in the Chinese production sector, and the ongoing political difficulties as a result of the Russia-Ukraine war.

Bad debt expense, asset impairments, and severance saw the tech giant spend $126 million in operations as it scaled down services in Russia.

The companys cloud business continues to perform strongly, with Azure contributing generously to the sectors 40% growth. This follows a $981
million increase in investments into Azure and Nuance, up 20%, which demonstrates the companys commitment to expanding its cloud-based operations. This follows a 2% decrease in revenue for the companys operating system, Windows.

LinkedIn , which Microsoft acquired in 2016 for $26.2 billion, saw revenue increase by 26% year-on-year, a sum that equals $768 million.

Microsoft expects a FY23 Q1 revenue of between $40.25 billion and $50.25 billion, down from the previous quarter and indeed below Wall Streets predictions. Read more

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Microsoft expects a FY23 Q1 revenue of between $40.25 billion and $50.25 billion, down from the previous quarter and indeed below Wall Streets predictions. Check out the best cloud hosting providers



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Link to news story: https://www.techradar.com/news/windows-falls-but-azure-and-linkedin-up-in-micr osoft-results/


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