Microsoft Corp. (NASDAQ: MSFT) announced financial results for the third quarter. Revenue amounted to USD 35 Billion, a 15% increase compared to the same period last year. Operating income was USD 13 Billion, a 25% increase compared to last year. Net income reached USD 10.8 Billion as diluted earnings per share amounted to USD 1.40. “We’ve seen two years’ worth of digital transformation in two months. From remote teamwork and learning, to sales and customer service, to critical cloud infrastructure and security – we are working alongside customers every day to help them adapt and stay open for business in a world of remote everything,” said Satya Nadella, chief executive officer of Microsoft. “Our durable business model, diversified portfolio, and differentiated technology stack position us well for what’s ahead.”
“In this dynamic environment, our sales teams and partners executed a solid third quarter, with Commercial Cloud revenue generating $13.3 billion, up 39% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We?remain committed to?balancing?operational discipline?with continued investments?in key strategic areas to drive future growth.”
The coronavirus had minimal net impact on the company’s total revenue for the third quarter.
Revenue in Business processes and productivity reached USD 11.7 Billion, a 15% increase. The business processes and productivity segment is comprised of official commercial products, cloud services, office consumer products, LinkedIn and dynamics products.
Microsoft returned a total of USD 9.9 Billion to shareholders in share repurchases and dividends.