Microsoft Q3 FY2025 Earnings

Headline Results (GAAP):
- Revenue: $70.1 billion, up 13 percent (up 15 percent in constant currency)
- Operating income: $32.0 billion, up 16 percent (up 19 percent in constant currency)
- Net income: $25.8 billion, up 18 percent (up 19 percent in constant currency)
- Diluted EPS: $3.46, up 18 percent (up 19 percent in constant currency)

Segment Highlights:
- Productivity and Business Processes revenue: $29.9 billion, up 10 percent (up 13 percent in constant currency)
- Microsoft 365 Commercial revenue up 11 percent
- LinkedIn revenue up 7 percent
- Dynamics 365 revenue up 16 percent

- Intelligent Cloud revenue: $26.8 billion, up 21 percent (up 22 percent in constant currency)
- Azure and other cloud services revenue up 33 percent

- More Personal Computing revenue: $13.4 billion, up 6 percent (up 7 percent in constant currency)
- Xbox content and services revenue up 8 percent
- Search and news advertising excluding TAC up 21 percent

Microsoft Cloud revenue: $42.4 billion, up 20 percent (up 22 percent in constant currency)

Cash Flow and Capital Return:
- Net cash from operations: $37.0 billion
- Returned $9.7 billion to shareholders through dividends and share repurchases