Cloud sales boost Microsoft Q3 results

Microsoft has posted its Q3 2021 results, reporting revenue of $41.7bn, up 19% compared to the same period last year. Once again, Microsoft has seen strong growth in its cloud services and personal computing sales.

Microsoft’s net income was $15.5 billion GAAP, an increase of 44% from last year. Diluted earnings per share were $2.03 GAAP, up 45%.

The company’s biggest driver of growth was its Azure cloud division, with revenue for the quarter totalling $15bn – a 23% year-on-year increase. Revenue in Microsoft’s personal computing division was $13.0 billion – a 19% rise.

Satya Nadella, Microsoft CEO, said: “Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning. We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform.”

Amy Hood, Microsoft executive vice president and chief financial officer added: “The Microsoft cloud, with its end-to-end solutions, continues to provide compelling value to our customers generating $17.7bn in commercial cloud revenue, up 33% year over year.”