Cloud services playing significant role in Microsoft’s reported $62 billion revenue

Microsoft has reported an overall revenue of $62.0 billion in the last quarter of 2023, an increase of 18 percent in comparison to the same quarter of the previous year, with Microsoft Cloud revenue contributing more than half of this figure at $33.7 billion – an increase of 24 percent year-over-year.

Business highlights shared include a revenue increase of 15 percent for Office Commercial products and cloud services; a 21 percent increase for dynamic products and cloud services; and an increase of 20 percent for revenue in Intelligent Cloud, currently sitting at $25.9 billion.

Speaking on the results, chairman and chief executive officer Satya Nadella comments: “We’ve moved from talking about AI to applying AI at scale. By infusing AI across every layer of our tech stack, we’re winning new customers and helping drive new benefits and productivity gains across every sector.”

Microsoft states that its new releases and enhanced products are “a result of significant research and development investments, made over multiple years” and adds that they are “designed to help customers be more productive and secure and to deliver differentiated value across the cloud and the edge.”

The full details from Microsoft can be found here.

Last year we covered how Microsoft and Epic expanded their strategic initiative combining Microsoft’s large-scale cloud and artificial intelligence technologies with Epic’s electronic health record ecosystem and healthcare industry experience, with the aim of addressing current issues affecting clinicians such as workforce burnout and staffing shortages.

We previously hosted Richard Billam, deputy director of ICT at Barnsley Hospital NHS Foundation Trust, for a discussion on how the trust has leveraged the Microsoft national tenant along with technology from University of Oxford start-up OX.DH for virtual consultations.

John Kosobucki, CEO and founder of OX.DH, also joined us for an interview to discuss how their solutions are built on Microsoft Cloud, and what this means for customers.