Microsoft has delivered its Q3 2021 earnings, and for the first time in a long time, the company’s Xbox division was arguably the star.
Microsoft ( NASDAQ:MSFT) has delivered another set of impressive results for the quarter ending March 31, 2021, and for the first time in a long time, it was the company’s Xbox division that arguably shone the brightest. Of course, the Azure cloud division continues to be a monster, but the continued success of the new Xbox Series X and S and the Xbox Game Pass subscription service drove gaming to huge year-on-year gains. Microsoft scooped up revenue of $41.7 billion and net income of $17 billion during Q3 2021, a respectable 19 percent year on year increase for revenue and a whopping 31 percent increase for income. Earnings per share were $2.03, which is above the $1.78 per share analysts were expecting and 45 percent up compared to the same period the previous year. Surprisingly Microsoft stock has actually dropped around 3 percent in after-hours trading, as investors were perhaps hoping for even more. Microsoft Update on PC Gaming Plans Reportedly Near, Ubisoft+ to Game Pass Hinted at Again While Microsoft’s gaming success may be more novel, you can’t overlook the Q3 effects of the usual suspects, namely business productivity services like Office 365 and Dynamics 365, as well as the ever-growing Intelligent Cloud division.
