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Earnings Release FY22 Q1

NarrativePower BI

Intelligent Cloud

Revenue increased $4.0 billion or 31%.

Server products and cloud services revenue increased $3.9 billion or 35% driven by Azure and other cloud services. Azure and other cloud services revenue grew 50% driven by growth in our consumption-based services. Server products revenue increased 14% driven by hybrid solutions, including Windows Server and SQL Server running in multi-cloud environments, with an increase in multi-year agreements that carry higher in-quarter revenue recognition, on a low prior year comparable impacted by a slowdown in transactional licensing.

Enterprise Services revenue increased $154 million or 9% driven by growth in Microsoft Consulting Services and Enterprise Support Services.

Operating income increased $2.1 billion or 39%.

Gross margin increased $2.6 billion or 28% driven by growth in Azure and other cloud services. Gross margin percentage decreased. Excluding the impact of the change in accounting estimate, gross margin percentage increased 2 points, driven by gross margin percentage improvement in Azure and other cloud services, offset in part by sales mix shift to Azure and other cloud services.

Operating expenses increased $496 million or 13% driven by investments in Azure and other cloud services.

Revenue, gross margin, and operating income each included a favorable foreign currency impact of 2%.

IMPORTANT NOTICE TO USERS (summary only, click here  for full text of notice); All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our  Forms 10-Q and 10-K.

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Information contained in these documents is current as of the earnings date, and not restated for new accounting standards