Revenue for the quarter that ended 31 March 2021 was up by 19% YoY

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Microsoft headquarters in Redmond, Washington. (Credit: Coolcaesar/Wikipedia.org)

Microsoft has reported a net income of $15.45bn for the third quarter of the fiscal year 2021 (FY21 Q3), a 44% increase compared to $10.75bn in the same quarter of the previous year.

The diluted earnings per share for the tech giant for FY21 Q3 were $2.03 compared to $1.4 in FY20 Q3, which marks an increase of 45%.

Revenue for the quarter that ended 31 March 2021 was $41.7bn, an increase of 19%, compared to $35bn in the corresponding quarter of the previous year.

According to the company, the growth in the reported quarter was fuelled by the revenue of $17.7bn posted by its commercial cloud business, an increase of 33% year-over-year (YoY).

Microsoft’s operating income surged 31% YoY in the third quarter to $17bn.

The company’s productivity and business processes unit posted revenue of $13.6bn in the reported quarter, which is an increase of 15% YoY.

Its office commercial products and cloud services had a 14% growth YoY in FY21 Q3 revenue while office consumer products and cloud services had a 5% growth YoY in revenue.

LinkedIn saw its revenue grow by 25% YoY in FY21 Q3. On the other hand, the dynamics products and cloud services revenue witnessed a spike of 26% YoY during the reported quarter.

Microsoft’s intelligent cloud business posted $15.1bn in revenue for the reported period, a 23% increase YoY.

The tech giant’s More Personal Computing unit had a 19% increase YoY in its revenue at $13bn in FY21 Q3.

Microsoft CEO Satya Nadella said: “Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning.

“We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform.”

Earlier this month, the tech major announced a $19.7bn deal to acquire Nuance Communications, US-based conversational artificial intelligence (AI) company.