Microsoft Corp. (NASDAQ: MSFT) on Tuesday reported higher revenues and earnings for the third quarter of 2022. The results also topped analysts’ expectations.
At $49.4 billion, third-quarter revenues were up 18% from the comparable period of last year and above analysts’ forecast. Server products and cloud services revenue advanced 29%, with Azure and other cloud services revenue growing 46%.
Net income came in at $16.7 billion or $2.22 per share in the March quarter, compared to $15.5 billion or $2.03 per share in the third quarter of 2021. The bottom line also came in above estimates.
Microsoft’s shares gained on Tuesday evening following the earnings announcement, after closing the regular session lower.
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