Microsoft's search and news ad revenue surges by 12% in Q3 2024

Delhi: In its latest quarterly report, Microsoft reveals an uptick in its search and news advertising revenue, marking a significant milestone in its financial trajectory. 

The company's revenue from search and news advertising, excluding  traffic acquisition costs (TAC), has surged by 12% compared to the previous year, marking a notable acceleration from the 10% growth seen in Q3 of 2023 showcasing robust growth in the digital advertising landscape.

Alongside this, LinkedIn revenue has also experienced a notable uptick of 10%, contributing to the overall growth of Microsoft's Productivity and Business Processes segment, which saw a remarkable 12% increase, reaching a staggering $19.57 billion.

Microsoft highlighted growing dominance in the digital advertising sphere, with platforms like Bing and Edge experiencing continued volume growth and heightened user engagement.

Microsoft Corp announced that its third-quarter revenue also soared to $61.9 billion, marking a 17% increase, for the quarter that ended on March 31. 

This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year. Amy Hood, executive vice- president and chief financial officer of Microsoft, attributed this to strong execution by their sales teams and partners.

Satya Nadella, chairman and chief executive officer of Microsoft, said, “Microsoft is seeing a new era of AI transformation driving better business outcomes across every role and industry.”