REDMOND, Wash. — January 24, 2023 — Microsoft Corp. today announced the following results for the quarter ended December 31, 2022, as compared to the corresponding period of last fiscal year:

· Revenue was $52.7 billion and increased 2%

· Operating income was $20.4 billion GAAP and $21.6 billion non-GAAP, and decreased 8% and 3%, respectively

· Net income was $16.4 billion GAAP and $17.4 billion non-GAAP, and decreased 12% and 7%, respectively

· Diluted earnings per share was $2.20 GAAP and $2.32 non-GAAP, and decreased 11% and 6%, respectively

“The next major wave of computing is being born, as the Microsoft Cloud turns the world’s most advanced AI models into a new computing platform,” said Satya Nadella, chairman and chief executive officer of Microsoft. “We are committed to helping our customers use our platforms and tools to do more with less today and innovate for the future in the new era of AI.”

https://www.microsoft.com/en-us/investor/earnings/fy-2023-q2/press-release-webcast

Shares of the tech giant rose after a beat on earnings per share for its latest quarter. Adjusted EPS came in at $2.32 per share vs. expectations of $2.30. Revenue came in at $52.75 billion versus Wall Street expectations of $52.93 billion.

The company's intelligent cloud business revenue of $21.51 billion beat the average estimate of $21.43 billion.