Microsoft Corporation's revenues reached $51.7 billion for the quarter ended December 31, 2021, up 20 percent from the same period the year before. The data released by the company's press office on Tuesday showed this.
Microsoft's operating profit for the period was $22.2 billion, up 24% from the same period in 2020. Net income reached $18.8bn, up 21% year-on-year. As The Wall Street Journal notes, the company showed good growth and financial performance exceeded experts' expectations.
The company ended the year with unearned revenue of $36.77 billion, below the StreetAccount consensus forecast of $36.90 billion. Microsoft said it expects to recognise 45% of its remaining $152 billion of performance obligations over the next year, the first time that percentage has fallen below 50% since at least 2017.
Corporation CEO Satya Nadella said the technology sector's share of global GDP is growing. "We are creating innovation and investing in a variety of growth markets with a common technological foundation," he added.
Founded in 1975 by entrepreneurs Bill Gates and Paul Allen, Microsoft is one of the largest corporations producing software for various devices ranging from personal computers to mobile phones. Microsoft is headquartered in Redmond, Washington, in the United States.