Microsoft Announces Financial Report for the Third Quarter of Fiscal Year 2023

Recently, Microsoft announced its financial results for the third quarter of the 2023 fiscal year, revealing revenues of $52.857 billion, a 7% year-over-year increase that surpassed market expectations of $51.03 billion. Furthermore, net income amounted to $18.299 billion, a 9% year-over-year growth, while diluted earnings per share rose to $2.45, a 10% increase from the previous year’s $2.22, also exceeding market expectations of $224 million.

Microsoft Chairman and CEO Satya Nadella asserted that the world’s most advanced artificial intelligence models are converging with the most universal user interfaces of natural language, engendering a new epoch in computing. Across the entire Microsoft cloud platform, we serve as the preferred platform for helping customers derive the utmost value from their digital expenditures and for innovating the next generation of artificial intelligence.

Examining business divisions, the revenue for the Productivity and Business Processes segment reached $17.516 billion, an 11% increase from the previous year’s $15.789 billion. The Intelligent Cloud business segment generated $22.081 billion in revenue, a 16% rise compared to the prior year’s $18.987 billion. Meanwhile, the revenue for the remaining Personal Computing business segment decreased by 9% to $13.26 billion, from the previous year’s $14.584 billion. Notably, Microsoft’s OEM and hardware businesses experienced a substantial decline in revenue.

Additionally, during the third quarter of the 2023 fiscal year, Microsoft returned $9.7 billion to shareholders through stock buybacks and dividends.

Following the release of the latest financial report, Microsoft’s stock price surged on April 26, 2023, due to better-than-anticipated performance and bolstered market confidence in the company’s AI technology leadership. By the close of trading that day, the stock price increased by $19.95, a 7.24% rise, closing at $295.37 per share.