Microsoft reports $21.7B in revenue for 2016 Q3; Bing search ad earnings up 18%
Microsoft says search ad growth on Bing was the result of Windows 10 usage.
Microsoft posted its 2016 Q3 earnings today, reporting $21.7 in revenue for the quarter ending March 31, 2016.
In a release posted on the company’s website, Chief Financial Officer Amy Hood said Microsoft’s operational and financial discipline delivered solid results this quarter.
“We remain focused on investing in our strategic priorities to drive long-term growth,” says Hood.
The company listed a number of slight gains for the quarter, with Office commercial products and cloud services revenue up seven percent, and Office consumer products and cloud services revenue up six percent. Dynamic products and cloud services revenue increased nine percent, while the number of Dynamics CRM Online seats more than doubled year over year.
Listed among its “Personal Computing” highlights for the quarter, Microsoft reported search ad revenue increased 18 percent. Microsoft attributed its search ad revenue growth to Windows 10 usage, noting that 35 percent of its search revenue in March was driven by Windows 10 devices.
Microsoft devices revenue took a nine-percent dive, in large part because of a 46-percent decrease in phone revenue. While device revenue was down, Microsoft said its overall device growth margin improved as a result of revenue generated from its Surface products. Surface Pro 4 and the Surface Book helped drive a 61-percent increase in Microsoft’s Surface revenue.