Microsoft published financial results of the company during the first quarter of the 2023 fiscal year (period from July 1 to September 30 of this year). Revenue for this period amounted to $ 37.2 billion, and net profit was fixed at $ 13.9 billion. For comparison, for the same period last year, revenue was $ 33.1 billion, net profit – $ 10.7 billion. The growth of indicators was 12 and 30 % respectively.
Microsoft has benefited from the ongoing pandemic, which forces many people to work remotely, play more, and communicate via video conferencing. The most significant growth in revenues was marked by the company’s cloud services. Total commercial revenue from consumer Office products grew 21%, while revenue from server products and cloud services jumped 22%. Azure cloud platform revenue increased by 48% at once.
Surface revenue rose 37% (to $ 1.5 billion), while Microsoft did not introduce any new devices of this line during the reporting period. The company just recently presented a new Surface Laptop Go and updated Surface Pro X, but their sales will only be counted in the next quarter.
The Xbox gaming division grew 30% in revenue, bringing it $ 3.1 billion in sales. Users appreciated the benefits of xCloud and Game Pass during the pandemic. Games from in-house studios and third-party developers also contributed significantly to the division’s success.
Microsoft is currently actively preparing to launch Xbox series x and Series S and notes high demand for these consoles. They will be complemented by a cloud service launched last month. xCloud and subscription service Xbox Game Pass, whose number of users in the past month exceeded 15 million.
The tech giant expects to see further revenue growth in the next quarter.
Read also: Sony does not rule out the possibility of buying new game studios
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