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Microsoft Q3 revenue hits £49.4 billion

Microsoft has announced its results for the quarter that ended March 31, 2024, with revenue increasing by 17 per cent to £49.4 billion.

The vendor credited its cloud business as a significant contributor to the results, with revenue in intelligent cloud up by 21 per cent to £21.3 billion.

In addition, server products and cloud services revenue increased 24 per cent driven by Azure and other cloud services revenue growth of 31 per cent.

In the same period, operating income increased by 23 per cent to $22 billion and net income increased by 20 per cent to $17.5 billion.

Satya Nadella, chairman and chief executive officer of Microsoft, commented, “Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry.”

Amy Hood, executive vice president and chief financial officer of Microsoft, added, “This quarter Microsoft Cloud revenue was £28 billion [$35.1 billion], up 23 per cent year-over-year, driven by strong execution by our sales teams and partners.”

Microsoft also pointed to revenue in productivity and business processes as another key highlight. That portion of the business generated revenue of £15.6 billion, an increase of 12 per cent.

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