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Microsoft’s Surface and Xbox hardware revenues take a big hit in Q3

Vector collage of the Microsoft logo among arrows and lines going up and down.
Image: The Verge

Microsoft just posted the third quarter of its 2024 fiscal financial results. The software maker made $61.9 billion in revenue and a net income of $21.9 billion during Q3. Revenue is up 17 percent, and net income has increased by 20 percent.

This is the second quarter in a row that Microsoft is including its additional revenue from its Activision Blizzard acquisition that’s pushed gaming to be Microsoft’s third largest business, above Windows.

Investors are also looking to see signs of revenue from Microsoft’s big AI investments over the past year, especially on the Azure OpenAI side where the company charges businesses to run AI tasks in the cloud. Once again, Office and cloud revenues still reign supreme at Microsoft this quarter, with…

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