Microsoft’s revenue rises 16% in Q3 with cloud, AI

Anadolu, Philippine News Agency

“Microsoft 365 Consumer products and cloud services revenue increased 5 percent, driven by Microsoft 365 Consumer cloud revenue growth of 6 percent,” the statement said. (Pexels Photo)

ISTANBUL – US-based tech major Microsoft saw its revenue increase 16 percent in the third quarter of this year, according to its financial results statement released Wednesday.

The company’s total revenue came in at USD65.6 billion from USD56.5 billion in the same period last year.

“Microsoft 365 Consumer products and cloud services revenue increased 5 percent, driven by Microsoft 365 Consumer cloud revenue growth of 6 percent,” the statement said.

Revenue in the Intelligent Cloud segment was USD24.1 billion, showing an increase of 20 percent, it added.

“AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process,” said Microsoft chairman and chief executive officer Satya Nadella.

“We are expanding our opportunity and winning new customers as we help them apply our AI platforms and tools to drive new growth and operating leverage,” he added.

Amy Hood, executive vice president and CFO, said Microsoft Cloud posted revenue of USD38.9 billion – up 22 percent year-on-year. (Anadolu)