Microsoft reports £23.7bn in Q3 2019 revenue

Microsoft announced on Wednesday (April.24th) strong growth in its latest third-quarter results, crediting continued cloud uptake in the commercial sector and an increase in consumers subscribing to its Office 365 services.

In the quarter ending on March 31st, the company saw an increase in revenue, operating income and profit compared to the same period a year ago.

“Leading organisations of every size in every industry trust the Microsoft cloud,” said Microsoft chief executive Satya Nadella.

“We are accelerating our innovation across the cloud and edge so our customers can build the digital capability increasingly required to compete and grow.”

Microsoft reported a net income of $8.8bn (£6.8bn), or $1.14 a share, on revenue of $30.6bn (£23.7bn), an increase 14% from the previous year.

Commercial and consumer products

Office Commercial products cloud services increased by 12%, driven by Office 365 Commercial revenue growth of 30%.

Its Office Consumer products and cloud services revenue increased by 8%, and Office 365 Consumer subscribers increased to 34.3m.

Surface and gaming revenue, meanwhile, were both up by 12% and 5%, respectively.

“Demand for our cloud offerings drove commercial cloud revenue to 9.6 billion dollars this quarter, up 41% year-over-year,” said Amy Hood, executive vice president, and chief financial officer of Microsoft.

“We continue to drive growth in revenue and operating income with consistent execution from our sales teams and partners and targeted strategic investments.”

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