Market Updates
Microsoft Earnings Growth Slows On Strong Dollar and Slowing Cloud Growth
Scott Peters
26 Jul, 2022
New York City
Microsoft said quarterly net growth slowed after cloud business growth slowed and videogame business shrank.
Microsoft said June quarter sales increased 12% to $51.9 billion and rose in constant currencies 16% from a year ago.
Operating income in the quarter rose 8% or 14% in constant currencies to $20.5 billion.
Net income jumped 2% or 7% in constant currencies to $16.7 billion from a year ago.
Diluted earnings per share rose 3% to $2.23 from $2.17 a year ago.
For the full-year net revenues rose 18% to $198.3 billion, net income surged 19% to $72.7 billion and earnings per share rose 20% to $9.65.
Segment Revenues
Cloud revenues increased 20% to $20.9 billion and revenues in productivity and business process segment rose 13% to $16.6 billion.
Revenues in personal computing increased 2% to $14.4 billion but Xbox and related revenues fell 6%.
Search and news advertising revenue excluding traffic acquisition costs increased 18% and LinkedIn revenues increased 26%.
Azure and other cloud services reported sales surge of 40% from a year ago.
Share Buyback Program
Microsoft returned $12.4 billion to shareholders including stock repurchases and dividends in the fourth quarter of fiscal year 2022, an increase of 19% from a year ago.
Annual Returns
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Earnings
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