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Microsoft 2022 Q3 results: Cloud growth steady, commercial bookings strengthen

by Jason Gumpert

Microsoft reported 2022 Q3 earnings of $2.22 on revenue of $49.4 billion, beating analyst estimates.

Commercial bookings grew 28% and Microsoft Cloud revenue rose 32% to $23.4 billion. Azure and other cloud services revenue growth at 46%.

 Among other business highlights, the company reported:

  • Dynamics product and cloud service revenue rose 22%, with Dynamics 365 revenue growth of 35% (though each had a 3-point lift in constant currency)
  • LinkedIn revenue growth of 34%
  • Office 365 Commercial revenue growth of 17%

Net income was $16.7 billion, up 8% with operating income of 20.4 billion, up 19%.

In Q2 2022, Dynamics 365 revenue grew faster, at 45%, as did overall Dynamics revenue. Azure grew 46%, with Microsoft Cloud overall up 32%.

In Q3 2021, the company reported revenue of $45.3 billion and $2.71 earnings per share. Azure and other cloud services revenue grew 50% in that quarter, with Dynamics products and cloud services revenue increasing 31% overall and D365 revenue up 48%.

Unlike in past reports, the company did not share Power Platform growth figures.

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About Jason Gumpert

As the editor of, Jason oversees all editorial content on the site and at our events, as well as providing site management and strategy. He can be reached at

Prior to co-founding, Jason was a Principal Software Consultant at Parametric Technology Corporation (PTC), where he implemented solutions, trained customers, managed software development, and spent some time in the pre-sales engineering organization. He has also held consulting positions at CSC Consulting and Monitor Group.

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