The booming PC market remains a great thing for Microsoft.
Microsoft’s overall business is still thriving, despite the fact that it isn’t experiencing the astounding profit growth that it did last year. In its second-quarter earnings report, the company reported revenue of $51.7 billion (up 20% from last year) and profits of $18.8 billion (up 21 percent). Microsoft, as usual, can thank its unstoppable cloud business, as well as a strong showing from its PC group, Office, and other business products. Its Intelligent Cloud business increased by 26% to $18.3 billion, while its Productivity and Business group increased by 19% to $15.9 billion.
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There weren’t any true major weak links this quarter — even Surface revenue, which Microsoft previously expected to dip a bit, grew by 8 percent thanks to strong Surface Laptop sales. Windows OEM revenues also increased by 25 percent, not a huge surprise since the overall PC industry is still going strong. Where the PC business goes, Microsoft’s revenues will follow, after all. When it comes to Office, the company says its consumer revenue increased by 15 percent, and that it has reached 56.4 million Microsoft 365 subscribers.
While Microsoft’s earnings reports have basically looked the same over the last few years — Cloud good! Revenues grow! — the company’s numbers will look a bit different once it finalizes its $68.7 billion acquisition of Activision Blizzard in 2023. At the very least, we’ll get to see how much the new Microsoft Gaming division actually helps (or hurts) Microsoft’s overall business.
