Microsoft’s net income increased by 33%, gaming bet successful

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San Francisco. Microsoft reported revenue of $62 billion and net income of $21.9 billion during the quarter ending December 31. Revenue increased by 18 percent and net income increased by 33 percent.

Microsoft completed the acquisition of gaming company Activision Blizzard on October 13, 2023.

Xbox content and services revenue increased 61 percent, driven by a net impact of 55 points from the Activision acquisition.

Microsoft said the net impact in revenue from the Activision Blizzard acquisition was more than $2 billion. Microsoft also laid off 1,900 employees in its gaming division earlier this month, primarily affecting Activision Blizzard employees.

Revenue in Productivity and Business Processes was $19.2 billion and increased 13 percent for the quarter.

LinkedIn’s revenue grew 9 percent. However, device revenue declined 9 percent during the quarter.

Satya Nadella, Chairman and CEO of Microsoft, said, “We have moved towards implementing AI at scale. We are adding AI to every layer of the tech stack, creating new customers and driving new benefits and increased productivity in every area. Have been.”

“The strong execution of our sales team and partners drove Microsoft Cloud revenue to $33.7 billion, up 24 percent year-over-year,” said Amy Hood, Executive Vice President and CFO of Microsoft.

Microsoft 365 consumer subscribers have now reached 78.4 million, up nearly 16 percent year-over-year.

–IANS

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