(Microsoft) Microsoft Corp. reported revenue of $49.4 billion in the third quarter of 2022, an increase of 18% from the previous year.
The company said that its cloud platform continued to demonstrate strengths, with revenues in the segment up 32% year-over-year to $23.4 billion. The cloud strengths helped Microsoft report a better-than-expected growth in commercial bookings of 28%.
Microsoft’s operating income was reported at $20.4 billion, up 19%, while net income came at $16.7 billion, an increase of 8%. Diluted earnings per share rose 9% on a GAAP basis to $2.22.
The company said it returned $12.4 billion to its shareholders in the form of buybacks and dividends in the quarter, which is 25% higher than the prior year.
MSFT: NASDAQ is up +5.42% on premarket
