Microsoft attributes 14% revenue increase to cloud services

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Microsoft reported $30.6 billion in revenue for the third quarter of fiscal year 2019, which ended March 31. This represents a 14 percent increase year over year, according to its financial statement issued April 24.

Additionally, Microsoft's operating income increased 25 percent year over year to $10.3 billion, and net income was $8.8 billion, a 19 percent surge year over year. In return, Microsoft issued $7.4 billion to shareholders in share repurchases and dividends to be collected in the third quarter of fiscal 2019.

Microsoft attributed its successful quarter to its cloud services, which experienced major increases.

"Demand for our cloud offerings drove commercial cloud revenue to $9.6 billion this quarter, up 41 percent year over year," Amy Hood, executive vice president and CFO of Microsoft, said. "We continue to drive growth in revenue and operating income with consistent execution from our sales teams and partners and targeted strategic investments."

Within its intelligent cloud segment, Microsoft registered $9.7 billion in revenue, a 22 percent increase year over year.

To access the complete financial report, click here.

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