Microsoft has reported earnings for its third quarter of 2016. The company reported $20.5 billion in revenue, with an operating income of $5.3 billion. Net income came in at $3.8 billion, with earnings per share hitting $0.47. While the results are strong, revenue and profit have both fallen from the year-ago quarter.
Revenue in Productivity and Business Processes grew one percent to $6.5 billion. Office commercial products and cloud services revenue grew the division seven percent, driven by Office 365 revenue growth. Office consumer products and cloud services revenue grew six percent in constant currency with Office 365 consumer subscribers increasing to 22.2 million.
While specific sales figures weren't disclosed, revenue in "More Personal Computing" grew one percent to $9.5 billion. Windows OEM revenue declined two percent, outperforming the PC market, driven by higher consumer premium device mix. Surface revenue increased 61 percent in constant currency driven by the Surface Pro 4 and Surface Book. As expected, phone revenue continues to drop, falling 46 percent.
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