Cloud Services Leading Driver of Microsoft Revenue
Tech giant Microsoft, released its Q2 2022 earnings yesterday, here are the key points.
The company made $51.7 billion in revenue with its three key segments experiencing double digit growth rates. Cloud services was the fastest growing segment, as it grew by 26% year-on-year.
Net Earnings and Earnings Per Share
Microsoft had a net income of $18.8 billion, an increase of 21% year-on-year. Diluted earnings per share, which refers to earnings that take into account all possible dilutive events in the future, was at $2.48 dollars, up 22% year-on-year.
Microsoft’s gaming business still remains in the spotlight as the company stated that it would be acquiring the popular Call of Duty publisher, Activision Blizzard, for $68.7 billion. According to Satya Nadella: “Gaming franchises around the world are radically becoming much more software-like, leading to the adoption of more diverse business models in the industry.”