Microsoft has reported its Q1 results of 2022. Revenue figures have increased and in areas most predictions have been exceeded.
Revenue for Q1 was $45.32 billion which is over $2 billion higher than some predictions. The revenue reported is around a 22% increase year over year.
Net income for the company in Q1 was $20.5 billion, which is a 48% increase.
Azure and other cloud services have grown 50% year over year. Microsoft has also recently launched Windows 11, its latest update to the Windows operating system. Microsoft CEO Satya Nadella has said:
“The PC will be more critical than ever,”
Also, gaming has been a great industry for Microsoft, following the release of its latest consoles Xbox Series X and Series S, gaming hardware revenue is up 166%. According to Microsoft, they have been able to ship more consoles than expected. Overall revenue from gaming at Microsoft is up by 16% to $3.6 billion.
Microsoft Office, the well-known service from Microsoft which includes products such as Microsoft Word has had a revenue increase of 10% and Microsoft 365 for consumers now has 54.1 million subscribers.
Overall the earnings report from Microsoft is very strong and has led to its stock price increase since the report. Microsoft’s stock price is up by around 59.45% year to date.