Microsoft Sees Massive Net Income Increase

Cloud services have, once again, taken the spotlight for Microsoft, as the company reported massive net income increase for the third quarter of the fiscal year 2018.

Windows and Surface hardware also performed admirably, and the same can be said for gaming.

The Q3 FY2018 results that Redmond posted, reveal that cloud has again pushed the company to record highs. Revenue for the quarter came in at $26.8 billion, translating to a 16% increase year-over-year. The operating income also increased to the tune of 23%, coming in at $8.3 billion.

Likewise, for the net income for this quarter, which totaled $7.4 billion after growing 35%.

CEO Satya Nadella praised the level of innovation happening at Microsoft, while specifically highlighting the performance of the cloud division:

“Our results this quarter reflect the trust people and organizations are placing in the Microsoft Cloud. We are innovating across key growth categories of infrastructure, AI, productivity, and business applications to deliver differentiated value to customers.”

On the Windows side of things, we have OEM revenue recording a 4% growth.

The Surface business also performed well, considering it was this time last year that it was impacted by the lack of product refreshes. Well, the new devices have made their mark, leading to a growth of 32% in this line of hardware for the company.

Gaming increased by 18%, led by the growth experienced by Xbox software and services.

Microsoft has now shifted focus to its next earnings report, set for July 19, which will also be an end-of-year report for technology titan.

But so far, so good.