FY25 Q3 - Metrics - Investor Relations

Earnings Release FY25 Q3

Investor Metrics

Investor Metrics
(in millions, except for percentages and where otherwise noted)	Q324	Q424	FY24	Q125	Q225	Q325
Commercial (Includes commercial portion of LinkedIn)
Commercial bookings growth (y/y)*	29% / 31%	17% / 19%	20%	30% / 23%	67% / 75%	18% / 17%
Commercial remaining performance obligation (in billions)	$235	$269	$269	$259	$298	$315
Commercial revenue annuity mix	97%	97%	97%	98%	97%	98%
Microsoft Cloud revenue (in billions)	$35.2	$36.9	$137.7	$38.9	$40.9	$42.4
Microsoft Cloud revenue growth (y/y)*	24% / 23%	22% / 23%	23%	22% / 22%	21% / 21%	20% / 22%
Microsoft Cloud gross margin percentage	72%	70%	72%	71%	70%	69%
Productivity & Business Processes and Intelligent Cloud
Microsoft 365 Commercial cloud revenue growth (y/y)*	17% / 17%	15% / 16%	18%	15% / 16%	16% / 15%	12% / 15%
Microsoft 365 Commercial seat growth (y/y)	8%	7%	7%	8%	7%	7%
Microsoft 365 Consumer cloud revenue growth (y/y)*	8% / 8%	7% / 7%	8%	6% / 7%	8% / 8%	10% / 12%
Microsoft 365 Consumer subscribers	80.8	82.4	82.4	84.4	86.3	87.7
LinkedIn revenue growth (y/y)*	10% / 9%	10% / 9%	9%	10% / 9 %	9% / 9%	7% / 8%
Dynamics 365 revenue growth (y/y)*	22% / 21%	19% / 20%	23%	18% / 19%	19% / 18%	16% / 18%
Azure and other cloud services revenue growth (y/y)*	35% / 35%	34% / 35%	33%	33% / 34%	31% / 31%	33% / 35%
More Personal Computing
Windows OEM and Devices revenue growth (y/y)*	2% / 2%	-1% / 0%	0%	2% / 2%	4% / 4%	3% / 3%
Xbox content and services revenue growth (y/y)*	62% / 61%	61% / 61%	50%	61% / 61%	2% / 2%	8% / 9%
Search and news advertising revenue (ex TAC) growth (y/y)*	8% / 8%	15% / 16%	9%	18% / 19%	21% / 20%	21% / 23%

* Includes non-GAAP constant currency growth (GAAP% / Constant Currency%)

Certain amounts have been rounded for presentation purposes

Reconciliation of GAAP and non-GAAP financial measures are available in the Earnings Release Slides (http://aka.ms/slidesfy25q3)

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