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Home Markets Equities Company Results

Microsoft reports profit of $16.4 billion, a 12.47% decline year on year

Idika Aja by Idika Aja
January 25, 2023
in Company Results, Equities, Markets
Microsoft teams

Microsoft CEO Satya Nedalla

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Microsoft has released its FY 23 second quarter results that ended December 31, 2022, reporting a net income of $16.425 billion representing a 12.47% decline from the N18.765 billion reported same period in FY 22.

Revenue (GAAP)

2022/23 Q2: $52.747 billion

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2021/22 Q2: $51.728 billion

Change: +1.97%

Cost of Revenue (GAAP)

2022/23 Q2: $17.488 billion

2021/22 Q2: $16.960 billion

Change: +3.11%

Gross Margin (GAAP)

2022/23 Q2: N35.259 billion

2021/22 Q2: N34.768 billion

Change: +1.41%

Operating Expenses (GAAP)

2022/23 Q2: $14.869 billion

2021/22 Q2: $12.521 billion

Change: +18.75%

Operating Income (GAAP)

2022/23 Q2: $20.399 billion

2021/22 Q2: $22.247 billion

Change:  -18.31%

Net Income (GAAP)

2022/23 Q2: $16.425 billion

2021/22 Q2: $18.765 billion

Change:  -12.47%

Diluted EPS (GAAP)

2022/23 Q2: $2.20

2021/22 Q2: $2.48

Change:  -11.29%

Net Cash from Operations (GAAP)

2022/23 Q2: $11.173 billion

2021/22 Q2: $14.480 billion

Change:  -22.84%

Bottom line: The decline in net income was due to higher operating expenses, driven by investments in cloud engineering, the Nuance acquisition, and LinkedIn.

  • Another contributing factor to the decline was the fall in More Personal computing revenue, especially Windows OEM revenue. Windows OEM revenue, the price PC manufacturers pay Microsoft to put Windows on machines fell by a massive 39% in Q2.
  • Microsoft previously forecast a tough quarter for Windows OEM revenue and hardware, and the results are clear on the state of the PC industry right now.
  • And the PC market is not going to improve next quarter, either. Microsoft CFO Amy Hood provided guidance of mid to high 30% declines in Windows OEM revenue for Q3, alongside mid-40 % declines in devices revenue.

 


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Idika Aja

Idika Aja

Idika is a Chartered Stockbroker with expertise in financial analysis, equity research, perspective analysis, and investment commentary.

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  • WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 
  • Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 
  • Tariff relief triggers $2 billion investment in Nigeria’s digital infrastructure – Tayo Aduloju

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Yusuf Tuggar, Nigerian military

WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 

June 21, 2025
Heineken launches mandatory takeover bid of Champions Breweries, offers to buyout remaining 15.3% equity stake

Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 

June 21, 2025
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