Microsoft (MSFT) continues to show steady growth: Q3 2023 report

Microsoft (MSFT) continues to show steady growth. The report for the third quarter of 2023 confirms that the company is continuing to strengthen its position in the artificial intelligence technology market.

MSFT’s revenue for the third quarter of the current fiscal year was $52.86 billion, up 7% from the same period last year. The company’s net income increased by 9% to $18.29 billion, and EPS (earnings per share) was $2.46, up 10% from a year ago.

The company’s performance significantly exceeded analysts’ expectations, leading to a sharp rise in MSFT’s stock prices. At the time of publication of the report, the company’s shares rose by 8.5%.

As Microsoft CEO Satya Nadella noted, the company continues to strengthen its position in the field of artificial intelligence and cloud technologies. In the current quarter, MSFT is expecting a 6.7% increase in revenue, largely due to the increasing interest in AI technologies.

It should also be noted that Microsoft continues to invest in the development of its product lines, including the gaming industry. The company is successfully promoting the Xbox Game Pass service and has introduced a new generation of the Xbox gaming console.

Table of MSFT results for the third quarter of 2023 (GAAP):