Microsoft, the second most valuable company in the world, with a market capitalization of over $2 trillion published the third-quarter financial results for the fiscal year 2023 on Tuesday, April 25. Here are a few key financials to know from the results announced for the quarter ended March 31, 2023, as compared to the corresponding period of last fiscal year:

Revenue was $52.9 billion and increased 7% (up 10% in constant currency)

Operating income was $22.4 billion and increased 10% (up 15% in constant currency)

Net income was $18.3 billion and increased 9% (up 14% in constant currency)

Diluted earnings per share was $2.45 and increased 10% (up 14% in constant currency)

“Focused execution by our sales teams and partners in this dynamic environment resulted in Microsoft Cloud revenue of $28.5 billion, up 22% (up 25% in constant currency) year-over-year,” said Amy Hood, executive vice president and chief financial officer of Microsoft.

Revenue in Productivity and Business Processes was $17.5 billion and increased 11% (up 15% in constant currency), with the following business highlights:

Office Commercial products and cloud services revenue increased 13% (up 17% in constant currency) driven by Office 365 Commercial revenue growth of 14% (up 18% in constant currency)

Office Consumer products and cloud services revenue increased 1% (up 4% in constant currency) and Microsoft 365 Consumer subscribers grew to 65.4 million

LinkedIn revenue increased 8% (up 10% in constant currency)

Dynamics products and cloud services revenue increased 17% (up 21% in constant currency) driven by Dynamics 365 revenue growth of 25% (up 29% in constant currency)

Revenue in Intelligent Cloud was $22.1 billion and increased 16% (up 19% in constant currency)

Server products and cloud services revenue increased 17% (up 21% in constant currency) driven by Azure and other cloud services revenue growth of 27% (up 31% in constant currency)

Revenue in More Personal Computing was $13.3 billion and decreased 9% (down 7% in constant currency).

Windows OEM revenue decreased 28%

Devices revenue decreased 30% (down 26% in constant currency)

Windows Commercial products and cloud services revenue increased 14% (up 18% in constant currency)

Xbox content and services revenue increased 3% (up 5% in constant currency)

Search and news advertising revenue excluding traffic acquisition costs increased 10% (up 13% in constant currency)

Microsoft returned $9.7 billion to shareholders in the form of share repurchases and dividends in the third quarter of fiscal year 2023.