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.
Read management/analysts’ comments on Microsoft’s Q3 report
Microsoft’s shares gained on Tuesday evening following the earnings announcement, after closing the regular session lower.