Microsoft’s second quarter revenue hit $52billion, strengthened by Clouds
By Dele Ojo
Microsoft Corp has announced its financial results for the quarter ended December 31, 2021, revealing that revenue stood at $51.7 billion showing an increase of 20 percent compared with the previous year’s achievement.
In a statement by the company, operating income was $22.2 billion, signifying a 24 percent rise in relation to a year before, while net income was $18.8 billion and increased y 21 percent.
“Digital technology is the most malleable resource at the world’s disposal to overcome constraints and reimagine everyday work and life,” said Satya Nadella, chairman and chief executive officer of Microsoft. “As tech as a percentage of global GDP continues to increase, we are innovating and investing across diverse and growing markets, with a common underlying technology stack and an operating model that reinforces a common strategy, culture, and sense of purpose.”
Amy Hood, executive vice president and chief financial officer of Microsoft also said: “Solid commercial execution, represented by strong bookings growth driven by long-term Azure commitments, increased Microsoft Cloud revenue to $22.1 billion, up 32% year over year.”
Revenue in Productivity and Business Processes was $15.9 billion and increased 19%, with the following business highlights: Office Commercial products and cloud services revenue increased 14% driven by Office 365 Commercial revenue growth of 19%, Office Consumer products, and cloud services revenue increased 15% and Microsoft 365 Consumer subscribers grew to 56.4 million, LinkedIn revenue increased 37% (up 36% in constant currency), Dynamics products and cloud services revenue increased 29% driven by Dynamics 365 revenue growth of 45% (up 44% in constant currency), while Revenue in Intelligent Cloud was $18.3 billion and increased 26%.
Also, Server products and cloud services revenue increased 29% driven by Azure and other cloud services revenue growth of 46%,
Revenue in More Personal Computing was $17.5 billion and increased 15 percent.
Meanwhile, Microsoft returned $10.9 billion to shareholders in the form of share repurchases and dividends in the second quarter of the fiscal year 2022, an increase of 9% compared to the second quarter of the fiscal year 2021.
Microsoft enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
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