(NASDAQ: MSFT) reported results for the third quarter of fiscal year 2023, which ended on March 31. According to the results, Microsoft’s revenue for the third quarter was $52.857 billion, up 7% from $49.360 billion a year earlier and up 10% on a constant currency basis, while net income was $18.299 billion, up 9% from $16.728 billion a year earlier and up 14% on a constant currency basis.
Microsoft’s third-quarter revenue and earnings per share both beat analysts’ consensus estimates, pushing the stock up more than 5% in after-hours trading.
Microsoft shares are up 5.37% after hours
Microsoft opened at $179.51 on the Nasdaq exchange on Tuesday. By Tuesday’s close, Microsoft shares were down $6.35, or 2.25%, to close at $275.42. Microsoft shares rose $14.78, or 5.37%, to $290.20 in after-hours trading as of 17:47 EDT Tuesday (5:47 GMT Wednesday). Over the past 52 weeks, Microsoft shares have traded as high as $294.18 and as low as $213.43.
Fiscal third-quarter earnings highlights:
— Total revenue was $52,857 million, up 7% from $49,360 million a year earlier and up 10% year-over-year on a constant currency basis;
— Operating profit of US$22,352 million, up 10% from US$20,364 million a year earlier, and up 15% year-on-year at constant exchange rates;
— net profit of US$18,299 million, up 9% from US$16,728 million a year earlier and up 14% year-on-year at constant exchange rates
— Diluted earnings per share of US$2.45, up 10% from US$2.22 in the prior year period and up 14% year-on-year at constant exchange rates;
— Productivity and Business Processes segment revenue of $17,516 million in the third fiscal quarter, up 11% from $15,789 million in the prior-year period and up 15% year-over-year in constant currency;
— Smart Cloud segment revenue for the third fiscal quarter was $22,081 million, up 16% from $18,987 million in the prior-year period and up 19% year-over-year at constant currency;
— More Personal Computing segment revenue for the third quarter was $13,260 million, down 9% from $14,584 million in the prior year quarter and down 7% year-over-year at constant currency.
The world’s most advanced artificial intelligence models will be combined with the world’s most versatile user interface — natural language — to create a new era of computing. On the Microsoft Cloud Platform, we are the platform of choice to help customers get the most value from their digital spend and innovate for the next generation of artificial intelligence.”