It looks like computational giant Microsoft’s hard work is finally paying off big time!
The leading tech firm has just reported its latest financial earnings for Q3 this year and it came with some great achievements, not to mention record-breaking figures.
For starters, the company’s revenue for search and news ads grew by 10%, YoY, and that excluded costs linked to acquiring traffic. The latter is what the firm jets out to its trusted publishers. Meanwhile, this rapid rise on the revenue front is a huge indication of a boost from the previous quarter which just saw a 3% rise.
Moreover, the firm also witnessed a general rise in revenue for sectors like its business processes and even its productivity grew to a whopping $18.6 billion figure.
On the other hand, the company’s sales during this period came to an end in September when it produced a $56.5 billion figure, exceeding the expectations of the industry’s experts as mentioned by FactSet recently.
Seeing the firm’s growth attain double digits again is certainly great news for obvious reasons and it also proves how the firm’s advertising spending is getting back on track after experiencing the downfall that came with the ongoing economic downturn.
The jawdropping sales were linked to massive investments in the field of Generative AI and it proves how it has a great importance for those wishing to invest more in terms of marketing in the near future.
Seeing the sales revenue reach $56.5 billion was also a wonderful finding, going above predicted figures again. We saw it break records from not only the previous year but the last quarterly results too. That was accompanied by a rise of nearly 5% in stock prices which struck the $350 figure.
The computational giant gave a huge acknowledgment of its success to its ongoing goals linked to investments in AI, with particular emphasis upon its Cloud Unit that plays host to their cloud computing endeavor called Azure. The latter’s revenue rose to a staggering figure of $24.3 billion in Q3, which was definitely a welcoming ordeal in terms of exceeding the expectations put out by top analysts today.
In other news, Microsoft’s LinkedIn app also had plenty to celebrate after the publishing of its quarterly results. The latest update spoke about the company reporting record-breaking figures in terms of engagement, as the app now comprises 985 million people.
App session grew to 12% in this timeframe, which again was a new high in terms of growth of its audience. The company mentioned how its members grew by 55 million since the month of May this year. And that alone has been a mighty accomplishment worth a mention.
As far as the main factors that led to the app’s growth are concerned, a huge chunk arises from places like India. The latter alone saw the addition of 10 million members since the last time the report was made on this front.
The country is certainly the second largest as far as the company’s marketplace is concerned. Meanwhile, growth also arose from the US and Brazil respectively in recent times. But the figures noted were nowhere close to the growth attained by India.
Microsoft has mentioned time and time again how the growth in members on the LinkedIn app has witnessed a rise over the past two years consecutively and the latest growth as far as engagement is concerned has to do with the addition of AI and more sharing of knowledge. The latter might have to do with the rollout of the firm’s Collaborative Articles feature.
Photo: DIW
Read next: Snap Inc.'s Q3 Success: More Users, More Fun, More Revenue!
The leading tech firm has just reported its latest financial earnings for Q3 this year and it came with some great achievements, not to mention record-breaking figures.
For starters, the company’s revenue for search and news ads grew by 10%, YoY, and that excluded costs linked to acquiring traffic. The latter is what the firm jets out to its trusted publishers. Meanwhile, this rapid rise on the revenue front is a huge indication of a boost from the previous quarter which just saw a 3% rise.
Moreover, the firm also witnessed a general rise in revenue for sectors like its business processes and even its productivity grew to a whopping $18.6 billion figure.
On the other hand, the company’s sales during this period came to an end in September when it produced a $56.5 billion figure, exceeding the expectations of the industry’s experts as mentioned by FactSet recently.
Seeing the firm’s growth attain double digits again is certainly great news for obvious reasons and it also proves how the firm’s advertising spending is getting back on track after experiencing the downfall that came with the ongoing economic downturn.
The jawdropping sales were linked to massive investments in the field of Generative AI and it proves how it has a great importance for those wishing to invest more in terms of marketing in the near future.
Seeing the sales revenue reach $56.5 billion was also a wonderful finding, going above predicted figures again. We saw it break records from not only the previous year but the last quarterly results too. That was accompanied by a rise of nearly 5% in stock prices which struck the $350 figure.
The computational giant gave a huge acknowledgment of its success to its ongoing goals linked to investments in AI, with particular emphasis upon its Cloud Unit that plays host to their cloud computing endeavor called Azure. The latter’s revenue rose to a staggering figure of $24.3 billion in Q3, which was definitely a welcoming ordeal in terms of exceeding the expectations put out by top analysts today.
In other news, Microsoft’s LinkedIn app also had plenty to celebrate after the publishing of its quarterly results. The latest update spoke about the company reporting record-breaking figures in terms of engagement, as the app now comprises 985 million people.
App session grew to 12% in this timeframe, which again was a new high in terms of growth of its audience. The company mentioned how its members grew by 55 million since the month of May this year. And that alone has been a mighty accomplishment worth a mention.
As far as the main factors that led to the app’s growth are concerned, a huge chunk arises from places like India. The latter alone saw the addition of 10 million members since the last time the report was made on this front.
The country is certainly the second largest as far as the company’s marketplace is concerned. Meanwhile, growth also arose from the US and Brazil respectively in recent times. But the figures noted were nowhere close to the growth attained by India.
Microsoft has mentioned time and time again how the growth in members on the LinkedIn app has witnessed a rise over the past two years consecutively and the latest growth as far as engagement is concerned has to do with the addition of AI and more sharing of knowledge. The latter might have to do with the rollout of the firm’s Collaborative Articles feature.
Read next: Snap Inc.'s Q3 Success: More Users, More Fun, More Revenue!
