(Microsoft) Microsoft Corp. announced revenue of $51.7 billion in the second quarter of 2022, up 20% from the prior year and above estimates of $50.88 billion.
Microsoft said that robust commercial execution, illustrated by strong growth in bookings due to long-term Azure commitments, helped its cloud revenue rise 32% year over year to $22.1 billion.
Intelligent Cloud registered a revenue of $18.3 billion, up by 26% from the prior year. Personal Computing revenue was posted at $17.5 billion, up 15%.
The company reported a revenue of $15.9 billion in Productivity and Business Processes, which was 19% higher than the prior year.
In the fourth quarter, Microsoft reported an operating income of $22.2 billion, up 24% from the prior year. Net income was $18.8 billion, an increase of 21%.
The company returned $10.9 billion in the form of share buybacks and dividends in Q2 2022, which was 9% higher than the prior year.
Microsoft said it expects revenue of $18.75 billion to $19 billion in its Intelligent Cloud in Q3 2022, which was higher than consensus estimates of $18.15 billion.
Revenue in the company’s More Computing unit is expected in the range of $14.15 billion to $14.45 billion in Q3 2022, above estimates of $13.88 billion. Productivity and Business Processes revenue is expected at between $15.6 billion and $15.85 billion, compared to $15.72 billion estimates.
MSFT: NASDAQ is up +1.22% on premarket.
