Microsoft reported $52.9 billion in revenue for the first quarter of 2023, a 7 percent increase from the first quarter of 2022.
Net income also increased by 9 percent to $18.3 billion, according to an April 25 press release from Microsoft.
Three more things to know about Microsoft's first-quarter performance:
- Microsoft's operating income increased by 10 percent to $22.4 billion.
- Microsoft's productivity and business processes revenue increased by 11 percent to $17.5 billion.
- Microsoft' cloud revenue increased by 22 percent to $28.5 billion.
The financial report comes after Microsoft expanded its partnership with EHR vendor Epic Systems. The companies will work together to develop and integrate generative AI into Epic's EHR software