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Microsoft continues showing positive trends
Microsoft Corp. has been developing advanced AI models for a long time, which it incorporates into its computing technology. For Q1 2023, Microsoft Corp. reported a 7% increase in total revenue to $52.9 billion and a 10% increase in operating income compared to the corresponding period last fiscal year. Microsoft Corp.'s net income was 18.3 billion USD, which represents a total year-over-year increase of 9%.
Revenues from the productivity and business processes division grew by 11% year-over-year, revenues from commercial Office products and cloud services by 13%, mainly due to revenues from the Office 365 Commercial product line.
Within cloud solutions, Microsoft is a platform that helps customers cover the maximum of their digital needs and offers innovations in this area. This strategy resulted in $28.5 billion in revenue for Microsoft's Cloud division in the first quarter of 2023, which represents an increase of 22% compared to the previous year.
Microsoft's stock performance over the past 5 years. (Source: TradingView)*
Adam Austera, Chief Analyst at Ozios
* Past performance is no guarantee of future results
Sources:
https://www.microsoft.com/en-us/investor/earnings/FY-2023-Q3/press-release-webcast