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Microsoft reports more cloud services progress

Microsoft reports more cloud services progress

Microsoft has reported another solid quarter led by its cloud sales growth.

For the second quarter ended December 31, 2021, revenue reached $51.7 billion, which was a 20% increase on the same quarter last year.

And operating income jumped 24% to $22.2 billion, with net income up 21% to $18.8 billion.

Diluted earnings per share was $2.48 and increased 22%.

“Digital technology is the most malleable resource at the world’s disposal to overcome constraints and reimagine everyday work and life,” said Satya Nadella, chairman and chief executive officer of Microsoft. “As tech as a percentage of global GDP continues to increase, we are innovating and investing across diverse and growing markets, with a common underlying technology stack, and an operating model that reinforces a common strategy, culture and sense of purpose.”

“Solid commercial execution, represented by strong bookings growth driven by long-term Azure commitments, increased total Microsoft cloud revenue to $22.1 billion, up 32% year-over-year”, said Amy Hood, executive vice president and chief financial officer of Microsoft.

Revenue in the Productivity and Business Processes segment was $15.9 billion and increased 19%.

Sales in Intelligent Cloud was $18.3 billion, an increase of 26%.

And revenue in More Personal Computing was $17.5 billion, jumping 15%.

Microsoft returned $10.9 billion to shareholders in the form of share repurchases and dividends in the second quarter of fiscal year 2022, an increase of 9% compared to the second quarter of fiscal year 2021.