Microsoft rides the cloud, Office and Windows to sustained growth in Q3 2022

Microsoft’s third quarter 2022 financial results are here, and the company’s posting double-digit growth yet again: revenue of $49.4 billion and net income of $16.7 billion. Revenue is up 18 percent, and that profit represents a 8-percent jump year-over-year. Microsoft is crediting a chunk of this quarter’s growth to the cloud, with server and cloud services revenue up 29 percent. There was plenty of reason to suspect Microsoft would still sport a smile this quarter. While the PC industry has started to decline from its pandemic highs, it was flagging Chromebook sales — not Microsoft Windows machines — that were responsible for the entirety of the recent dip. Meanwhile, the Xbox just had its best sales in 11 years, handily beating the r... Continue reading…