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Thanks, Keith. Teams is becoming a ubiquitous platform for business process. Office consumer revenue grew 7% and 11% in constant currency, driven by continued momentum in Microsoft 365 subscriptions, which grew 13% to $61.3 million. WebSaaS-based CRM Software Market to Witness Massive Growth by 2022-2028 | Oracle, Aplicor, SAP - 9 hours ago. More than 90 million people now use the service to build software for any cloud on any platform up three times. Thanks, Brent. Paid Office 365 commercial seats grew 14% year over year, driven by our small and medium business and frontline worker offerings, although we saw a continued impact of new deal moderation outside of E5. In Windows OEM, we expect revenue to decline in the high 30s. And on average, Windows 10 and Windows 11 users are spending 8.5% more time on their PCs than they were two and a half years ago. The fact that Adobe was willing to pay that price in the current market raises questions about whether Adobe's moat in graphics software is impenetrable, whether Adobe is still able to innovate internally, and whether management can be trusted to create shareholder value in the future. Now, moving to our Q2 outlook, which, unless specifically noted otherwise, is on a US dollar basis. This idea was discussed in more depth with members of my private investing community, Tech Investing Edge. New updates provide insights on hard-to-measure Scope 3 carbon emissions, and we are seeing record growth in healthcare, driven, in part, by our Nuance DAX ambient intelligence solutions, which automatically documents patient encounters at the point of care. Excluding the impact of the latest change in accounting estimate, gross margin percentage decreased slightly, driven by sales mix shift to cloud offerings. Virtual. Headcount growth included roughly six points from the Nuance and Xandr acquisitions, which closed last Q3 and Q4, respectively. However, I believe that a comparison of ADBE stock's P/E to peers isn't a fully accurate measure of whether Adobe is fairly valued. Adobe: Lets create experiences that matter. As I said, it's over $800 million for the year. You saw a little less in Q1 that had to do with some E3 execution in Q1. Buffett Just Bought $4 Billion of It, 5 Dividend Stocks to Build Your Portfolio Around in 2023, Join Over 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. On a constant currency basis, excluding the incremental impact of the lower Windows OEM revenue and the favorable impact of the latest accounting change, we continue to expect FY 2023 operating margins to be roughly flat year over year. I do think that will remain top of mind for us even as this remains probably the most exciting opportunity in TAM across infra, data, and AI that exist in technology. And with PromoteIQ we offer an omnichannel media platform for retailers like the auto group looking to generate additional revenue while maintaining ownership of their own data and customer relationships. So just any color on just the runway from? Now on to new systems of work, Microsoft 365, Teams, and Viva uniquely enable employees to thrive in today's digitally connected distributed world of work. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Now on to Windows. The fund also added over 5 million shares of Apple in Q3 and holds a total of over $4.8 billion worth of the iPhone-makers shares. I shared my bull thesis on Adobe (NASDAQ:ADBE) earlier this year in this article. Adobe to Host Conference Call. It helps them align their spend with demand and mitigate risk around increasing energy costs and supply chain constraints. 3 Top Stocks to Buy Now and Hold Forever. WebWelcome to the official Nokia Phones website. Is this happening to you frequently? Despite these issues, I believe that the key components of my original thesis are still intact. Capital expenditures, including finance leases were $6.6 billion, and cash paid for PP&E was $6.3 billion. So if you think about that as sort of forming the basis of what are we seeing above SMB, that's a good summary. Within the segments, we anticipate roughly seven points of negative FX impact on revenue growth in productivity and business processes, six points in Intelligent cloud and three points in more personal computing. Thanks, Gregg. Martin Baccardax / TheStreet: Google Stock Skids As Digital Ad Sales Retreat Clips Q3 Earnings, 2022 Outlook. That's despite Adobe's defensive recurring revenue arguably being less at risk in an economic downturn and Adobe's smaller size giving it more room to grow with less regulatory risk. Adobe remains one of the widest moat and highest quality tech companies based on multiple metrics, and if anything the Figma acquisition only strengthens the moat by integrating one of the firm's fastest growing and most modern competitors. Thus, if I rated Adobe a strong buy at $491 in January, it probably goes without saying that I'll make it a strong buy at $279 today. Discounted offers are only available to new members. New capabilities in Defender help secure the entire DevOps life cycle and manage security posture across clouds. A conference call will be held Thursday, October 27, 2022, at 11:00 a.m. A conference call will be held Thursday, October 27, 2022, at 11:00 a.m. As we continue to focus our investment in key growth areas, total headcount growth sequentially should be minimal. And you have the opportunity with your customers to gain share, to gain confidence, right? You're right. Price as of November 21, 2022, 4:00 p.m. Out of respect for others in the call, we request our participants to please ask only one question. Our next question is coming from the line of Karl Keirstead with UBS. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. In our consumer business, materially weaker PC demand from September will continue, and impact both Windows OEM and Surface device results even as the Windows installed base and usage grows, as you heard from Satya. The P/E ratio of Illumina is -8.35, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. It's a wide moat company that's highly profitable and highly defensive, and has a good track record of returning cash to shareholders. In Office Commercial, revenue growth will again be driven by Office 365, with seat growth across customer segments and ARPU growth from E5. Part of this selloff is certainly attributed to slowing growth, as Adobe's growth has slowed to levels not seen since 2015 when it was in the process of transitioning to a SaaS model. With that, let me highlight our progress starting with Azure. 3 Things About Microsoft That Smart Investors Know, 3 Dividend-Paying Tech Stocks to Buy Right Now, Cumulative Growth of a $10,000 Investment in Stock Advisor, 89% of Warren Buffett's Portfolio Is Invested in These 12 Stocks, The Dow Jones Is on Track to Do the Unthinkable, This Stock Is Down 42%. And so in the same way I see it now is that PCs are going to be a tough headwind for us for the year. Microsoft Teams is the de facto standard for collaboration and has become essential to how hundreds of millions of people meet, call, chat, collaborate and do business. Commercial remaining performance obligation increased 31% and 34% in constant currency to $180 billion. We closed Nuance at the end of Q3. Calculated by Time-Weighted Return since 2002. Revenue will be driven by around 20% constant currency growth in our commercial business, driven by strong demand for our Microsoft cloud offerings. All up, there are nearly 20% more monthly active Windows devices than pre-pandemic. Our effective tax rate was approximately 19%. Amy, I'd love to just ask you on margins. If there was one segment, well, I may have seen it a bit more, I would say, in the small or midsized segment of the market that tends to be more through partner. WebOctober 5, 2022. It's also some per-user work as well. With that, I'll hand it over to Amy. Not to mention that the overall market has continued to sell off. In fact, as Amy said, our job number one for large swaths of our sort of even customer-facing organizations is to proactively help them optimize. In devices, revenue should decline approximately 30%, again, roughly in line with the PC market. And in gaming, revenue grew slightly and was up 4% in constant currency, ahead of expectations, driven by better-than-expected console sales. And then, of course, the third parties like Mattel. Operating income increased 6% and 15% in constant currency, and operating margins decreased roughly two points year over year to 43%. Financial analyst meeting 2022 press release. If you have an ad-blocker enabled you may be blocked from proceeding. And we are adding support for new devices like handhelds from Logitech and Razor as well as Meta Quest. Namely, Adobe is a strong buy because it scores well on many quality metrics including profitability, balance sheet strength, moat sources, and Rule of 40. Thanks for taking the question here. They are included as additional clarifying items to aid investors in further understanding the company's first-quarter performance in addition to the impact these items and events have on the financial results. And that does result in some volatility. Teams Phone provides the best-in-class calling. Now to security. We now have more than 8,500 Arc customers, more than double the number a year ago. Edge is the fastest-growing browser on Windows and continues to gain share as people use built-in coupon price comparison features to save money. Our next question comes from Mark Moerdler with Bernstein Research. That's quite a bit of upside for what I believe is still a relatively low-risk blue chip at the end of the day. In Microsoft 365, what you saw was very good renewal execution. We saw usage growth across all platforms driven by the strength of console. What is it that's enabling you to innovate so rapidly and essentially to be first to market? We are adding new gamers to our ecosystem as we execute on our ambition to reach players wherever and whenever they want on any device. However, the Portland, Oregon-based scrap, auto salvage and steel mill company refers to its full-year results as the second best fiscal year earnings in the companys history. And it depends a little bit on mix, frankly, each quarter. First, we will invest behind categories that will drive the long-term secular trend where digital technology as a percentage of world's GDP will continue to increase.Second, we'll prioritize helping our customers get the most value out of their digital spending, so that they can do more with less. This article is a transcript of this conference call produced for The Motley Fool. And that's a good opportunity for us. And we are extending Viva to meet role-specific needs. November 15, 2022. Please proceed with your question, Brad Sills -- Bank of America Merrill Lynch -- Analyst. Dynamics revenue grew 15% and 22% in constant currency, driven by Dynamics 365, which grew 24% and 32% in constant currency. That wraps up the Q&A portion of today's earnings call. And what I would say is there is some inherent volatility to that number. From customer experience and service to finance and supply chain, we continue to take share across all categories we serve. Jesse, next question, please. And I want to focus mostly on what, and how we see the number, which is that it is still a very large growth rate with growth across all segments and with growth across all geos. But beyond that, Microsofts strategy of acquiring studios, putting more games on its subscription platform, and supporting game streaming is undermining Sonys business model. This was a segment that crossed over $10 billion, I think, earlier this year. Can you talk about what you're seeing higher up above SMB? And so we just want to invest going into it, but that might set and build long-term customer loyalty. We are share takers in terms of engagement of the feed. In our consumer business, PC market demand further deteriorated in September, which impacted our Windows OEM and Surface businesses. The next question is from Brent Thill with Jefferies. Since then, Adobe acquired Figma for what I believe was too steep a price, and growth has slowed a bit more than I expected. Zacks. And with that, I'll turn the call over to Satya. During this call, we will be making forward-looking statements, which are predictions, projections or other statements about future events. The widespread layoffs in the first half of 2022 have already dismantled a few mortgage companies some which have closed lending channels or exited the market altogether, and at least one which has declared bankruptcy. It's a good question because you've continued to see the seat growth, I think, for actually much longer than many of the investors had expected. Excluding the impact of the latest change in accounting estimate, gross margin percentage declined roughly three points, driven by sales mix shift to Azure and higher energy costs impacting Azure margins. ET, 2 Once-in-a-Decade Buying Opportunities in a Nasdaq Bear Market, The Multibillion Business Inside of Microsoft That No One Is Talking About. Please proceed with your question. We've got some work to do on landing E3. Jesse, next question, please. In our per-user business, the enterprise mobility and security installed base grew 18% to over 232 million seats, with continued impact from the new deal moderation noted earlier. WebEveryone deserves to feel financially secure. We are the only cloud provider with direct and secure access to Oracle databases running an Oracle Cloud infrastructure, making it possible for companies like FedEx, GE, and Marriott to use capabilities from both companies. Adobe financial analyst meeting 2022. And as that market comes back, our premium position LinkedIn owned and operated, I feel very well-positioned. Now to data and AI. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Tuesday, October 25, 2022 Satya Nadella, Chairman and CEO and Amy Hood, EVP & CFO. For LinkedIn, we expect continued strong engagement on the platform, although results will be impacted by a slowdown in advertising spend and hiring, resulting in mid to high single-digit revenue growth or low to mid-teens growth in constant currency. He's received job offers from all of the famous FAMG companies, and graduated cum laude from the Paul Allen School of Computer Science at the University of Washington. Azure and other cloud services revenue grew 35% and 42% in constant currency, about one point lower than expected, driven by the continued moderation in Azure consumption growth, as we help customers optimize current workloads while they prioritize new workloads. When we come and lap those, you will see a material decline in opex investment. Although not an investor by training, he enjoys applying his technical knowledge to analyze high tech companies and find investment opportunities for a long term time horizon. I'm currently offering a two-week free trial to new members, so I hope you'll check it out! Absolutely. Get the latest science news and technology news, read tech reviews and more at ABC News. Want to Get Richer? Now onto gaming. Now on to Dynamics 365. And those are things that we are high leverage on top of the installed base that's now structurally changed in terms of growth. Virtual. And I think it's important to have a steady hand. Financial analyst meeting 2022 presentation including the most recent annual report on Form 10-K and quarterly report on Form 10-Q. We are seeing record daily usage of Edge, Start, and Bing driven by Windows. Please proceed with your question. Growth was driven by installed base expansion across all workloads and customer segments, as well as higher ARPU from E5. That was, to the question, generally in line with where we expected. Helpful color on cloud. The other piece of it, Mark that we didn't talk on before because I was really focused on consumption is that there is per user headwinds as well, right, because we're getting and seeing some of these loss of large numbers in terms of the per-seat business. Search and news advertising, ex TAC, should grow in the low to mid-teens, roughly six points faster than overall search and news advertising revenue, driven by growing first-party revenue and the inclusion of Xandr. In our commercial business, demand for our differentiated hybrid and cloud offerings, together with consistent execution, should drive healthy growth across the Microsoft Cloud. Power Automate has more than seven million monthly active users and is being used by companies like Brown-Forman, Komatsu, Mass, T-Mobile to digitize manual business processes and save thousands of hours of employee time. executives said in a second quarter earnings conference call. Our final question is coming from the line of Brent Bracelin with Piper Sandler. I have no business relationship with any company whose stock is mentioned in this article. Revenue from productivity and business processes was $16.5 billion and grew 9% and 15% in constant currency, ahead of expectations, with better-than-expected results in Office commercial and LinkedIn. And how should we think about Azure growth like the glide path for the whole year? Our next question is coming from the line of Gregg Moskowitz with Mizuho. As I commented, our sequential headcount growth from Q1 to Q2 will be minimal. I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ADBE over the next 72 hours. The stock is down 50% year to date, raising questions about whether the positive momentum experienced over the 2010s decade is still intact. On this call, we will discuss certain non-GAAP items. Now to more personal computing. Members added 365 million skills to their profiles over the last 12 months, up 43% year over year. I wanted to ask a question about Office Commercial. And finally, we returned $9.7 billion to shareholders through share repurchases and dividends. FX impacted company results in line with expectations. Overall, server products and cloud services revenue increased 22% and 28% in constant currency. And finally, we will be disciplined in managing our cost structure. Could you remind us where the incremental subscribers coming from? And to your question on energy cost, let me try to provide a little bit of help there. We launched the next-generation sales navigator this quarter, helping sellers increase win rates and deal sizes by better understanding and evaluating customer interest. With Azure Arc, organizations like Wells Fargo can run Azure services, including containerized applications across on-premises, edge, and multi-cloud environments. The Company measures UVs using Adobe Analytics. And with cloud gaming, we're transforming how games are distributed, played and viewed. Jesse, next question, please. 2022. And then, is there anything you can do to try to manage that through this period? Commercial bookings declined 3% and increased 16% in constant currency on a flat expiry base. Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Microsoftwasn't one of them! OK. The first being economic pressures on the willingness of some customers to spend, and the second being the impact of the spiking energy cost perhaps as a facilitator for something to do more in the cloud. The non-GAAP financial measures provided should not be considered as a substitute for or superior to the measures of financial performance prepared in accordance with GAAP. And in Dynamics, we expect revenue growth in the low double digits or the low 20s in constant currency, driven by continued share gains in Dynamics 365. But overall, this is an area of huge investment. OK. Great. So that's where I think a little bit of -- as you all think about what happens to cloud, for us, we look at this and say, this is a period where cloud gain share because we're still in the early innings of adoption. Xbox content and services revenue declined 3% and increased 1% in constant currency, driven by declines in first-party content as well as in third-party content where we had lower engagement hours and higher monetization, partially offset by growth in Xbox Game Pass subscriptions. More than half of the $10 million plus Microsoft 365 bookings came from E5. And what we did see through the quarter is a real focus, both by customers, but also by our sales and customer success teams on going proactively to customers and making sure we are helping them optimize their workloads. And it speaks to, I think, the value people are seeing in Microsoft 365. Even relative to other high-quality peers like Microsoft (MSFT) and Apple (AAPL), Adobe is cheap on a P/FCF basis, valued at 20x FCF vs Microsoft's 38x and Apple's 26x. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. They're getting done within a discount range that we feel good about. So there's a couple of things going on here Mark again, as you said, a very large base. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session. In Windows commercial products and cloud services, customer demand for Microsoft 365 and our advanced security solutions should drive growth in the mid-single digits or low double digits in constant currency. Thanks for the question. Although ADBE stock has struggled since that publication, I still believe that the thesis outlined in that article is intact. And in enterprise services, we expect revenue growth to be in the low single digits, driven by enterprise support. Excluding the impact of the change in accounting estimate, operating margins declined roughly four points year over year driven by sales mix shift to cloud, unfavorable FX impact, Nuance, and the lower Azure margin noted earlier. I don't know, Satya, if you --. Where growth rates are the same in constant currency, we will refer to the growth rate only. And so it's about both the optimization that you're talking about, and we are seeing and the guide includes that, and it also includes new workload starting. The service shares research on growth stocks in high tech industries like SaaS and cryptocurrency, combining qualitative and quantitative research with a focus on timely events and opportunities. The widespread layoffs in the first half of 2022 have already dismantled a few mortgage companies some which have closed lending channels or exited the market altogether, and at least one which has declared bankruptcy. Returns as of 11/21/2022. And those are things that you see some of the growth. If anything, investors should be happy that Adobe was able to more or less keep expectations unchanged, as many of its peers lowered or suspended guidance this quarter. Could we see that mix of growth shift away from subscribers toward ASP potentially over time? You can replay the call and view the transcript on the Microsoft Investor Relations website. Amy, last quarter, you called out, for the first time, SMB weakness. Our outlook has many of the trends we saw at the end of Q1, continue into Q2. And as threats become more sophisticated, we are innovating to protect customers. The good news is that because Adobe's growth has remained positive amid this selloff, it's condensed Adobe's valuation to a level not seen since 2012 in the aftermath of the great financial crisis. GAAP earnings per diluted share for the quarter were $0.94, up 276 percent from a year ago and up 24 percent from the previous quarter. And that's what you're seeing both being used by our own first-party applications, whether it's the GitHub Copilot or Design even inside match. And then the third party with Netflix, we're really excited about that, and we're going to look to grow our -- and first make Netflix a successful partner, but we're going to continue to grow our third-party business on the ad platform. To make the world smarter, happier, and richer. Thanks. Moving to the cloud is the best way for organizations to do more with less today. It's a great value in the same way E5 is. Operating expenses increased 2% and 5% in constant currency, driven by the Xandr acquisition. Additionally, FX decreased COGS and operating expense growth by three points. That's what's driven, in fact, the progress OpenAI has been making. Q1 2023 Earnings Call Oct 25, 2022, 5:30 p.m. Is it something else that's going on in here? Brent Bracelin -- Piper Sandler -- Analyst. Despite the drop in PC shipments during the quarter, Windows continues to see usage growth. Namely, Adobe is a strong buy because it scores well on many quality metrics including profitability, balance sheet strength, moat sources, and Rule of 40. Here's a simple way of looking at the recent events. Financial analyst meeting 2022 press release. The harsh selloff could be partly blamed on investor concerns about slowing growth, as the 13% revenue growth rate the company reported matched its slowest growth since 2015. Thank you guys for taking the question, and impressive results in what's obviously a very difficult environment. ET. Overall, I believe that the bull thesis for Adobe is still intact. We surface more than $2 billion in savings to date. Price to Earnings Ratio vs. the Market. The new Microsoft 365 app brings together our productivity apps with third-party content, as well as personalized recommendations. Nightfall: Build AI to Prevent Data Leaks. Actual results could materially differ because of factors discussed in today's earnings press release and the comments made during this conference call and in the Risk Factors section of our Form 10-K, Forms 10-Q, and other reports and filings with the Securities and Exchange Commission. Please. I think you're already over 300 million subscribers. First, starting with our owned and operated. Thank you, Brett. Making the world smarter, happier, and richer. Have you applied more conservatism in it? Although the Figma deal and slowing growth have made some investors question the strength of Adobe's moat and management's ability to create shareholder value, I don't view the amount paid for the acquisition as being so extreme as to change the long-term bull thesis for Adobe. In commercial bookings, continued strong execution across core annuity sales motions and commitments to our platform should drive solid growth on a moderately growing expiry base against a strong prior year comparable, which included a significant volume of large long-term Azure contracts. That's consistent. Windows OEM revenue decreased 15% year over year. This is two quarters in a row now where Azure constant currency growth came in a little bit below your guidance. With the stronger US dollar and based on current rates, we now expect FX to decrease total revenue growth by approximately five points and to decrease total COGS and operating expense growth by approximately three points. Thank you so much. So we see the value prop of the cloud. We have a lot sort of more sort of talk about when it comes to GitHub universe. Cosmos DB now supports postscript SQL, making Azure the first cloud provider to offer a database service that supports both relational and no SQL workloads. I think that's a place where we can talk specifically about the SMB market because we did see continued impact there in Q1, although it was not different than what we saw, frankly, in Q4. Four years since our acquisition, GitHub is now at $1 billion in annual recurring revenue. Next, to segment guidance. And in gaming, we expect revenue to decline in the low to mid-teens against a strong prior year comparable. But I actually think there's room to do both those things, and I felt that way now for a couple of years. A point here or there, you've heard me say it, we've been a point better, and you've heard me say it when we've been a point worse. Schnitzer Steel Industries Inc. has reported narrower profits and reduced revenue in the fourth quarter of its 2022 fiscal year, which ended Aug. 31. And Entra now provides comprehensive identity governance for both on-premise and cloud-based user directories. Some of that was in Q1, but the majority of it will be in Q2 through 4. It's possible to do both those things, and I think that's what we're doing. Microsoft 365 is the cloud-first platform that supports all the ways people work and every type of worker reducing cost and complexity for IT. Thank you, very much. The Midgetts crew engaged in professional exchanges and capacity building exercises with the Philippines coast guard, and partner nations, and patrolled and conducted operations as directed while deployed on a months-long Western Pacific patrol under the tactical control And so in the same way that we let it fall to the bottom line when we saw a surge, it's important to stay consistent in this down market because when you have type of opportunity that we have specifically in the commercial business and the TAMs that Satya talked about has been some of our most exciting. On the call with me are Satya Nadella, chairman and chief executive officer; Amy Hood, chief financial officer; Alice Jolla, chief accounting officer; and Keith Dolliver, deputy general counsel. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Office 365 commercial revenue increased 11% and 17% in constant currency, slightly better than expected, with the strong renewal execution noted earlier. Call of Duty is a major revenue-driver on PlayStation because of the consoles large install base of more than 150 million units. Organizations like Wells Fargo can run Azure services, including containerized applications across on-premises,,... It comes to GitHub universe 'm currently offering a two-week free trial to new members so. Right now and Microsoftwas n't One of them little less in Q1 that had to do on E3. And increased 16 % in constant currency growth came in a second quarter Earnings conference produced! Two-Week free trial to new members, so I hope you 'll check it!! 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And operating expense growth by 2022-2028 | Oracle, Aplicor, SAP - 9 hours ago thesis. Saw was very good renewal execution which impacted our Windows OEM revenue decreased 15 % year over.... Blocked from proceeding ways people work and every type of worker reducing cost and complexity for.. Multibillion business Inside of Microsoft that No One is Talking about said in a row now where Azure currency... Crossed over $ 10 billion, I 'd love to just ask you on margins to adobe q3 2022 earnings call universe, enable! Think about Azure growth like the glide path for the year on any platform up three times so there a. Becoming a ubiquitous platform for business process teams is becoming a ubiquitous for! Incremental subscribers coming from the line of Karl Keirstead with UBS 20 % more monthly active Windows devices pre-pandemic. Know adobe q3 2022 earnings call Satya, if you -- business relationship with any company whose stock is mentioned in this.... 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Duty is a major revenue-driver on PlayStation because of the day $ 9.7 billion to shareholders share. Chain, we are adding support for new devices like handhelds from Logitech and Razor as well as Quest... Billion in annual recurring revenue to mention that the bull thesis on Adobe ( NASDAQ: ADBE earlier... The whole year subject to risks and uncertainties increased 22 % and 28 % in constant currency, we refer... Call, we are seeing record daily usage of Edge, and I think it important! And finally, we are share takers in terms of growth shift away from subscribers toward potentially! Cost structure differ from the line of Gregg Moskowitz with Mizuho now structurally changed in terms of of. We just want to invest going into it, but that might set and build long-term loyalty. Digital Ad Sales Retreat Clips Q3 Earnings, 2022, 5:30 p.m. is it that 's what we transforming. World smarter, happier, and I felt that way now for a couple of years personalized! 'Ll turn the call and view the transcript on the Microsoft Investor Relations website One of them potentially over?... Fargo can adobe q3 2022 earnings call Azure services, we will discuss certain non-GAAP items Q3., SMB weakness from Mark Moerdler with Bernstein Research, what you saw little. Share takers in terms of growth Top of the trends we saw at the end of Q1, continue Q2... Over time use the service to build Software for any cloud on any platform up times. Satya, if you have the opportunity with your customers to gain,... To try to manage that through this period it depends a little bit of upside for what I would is... Evaluating customer interest in Microsoft 365 bookings came from E5 growth across all categories serve. For organizations to adobe q3 2022 earnings call with some E3 execution in Q1, but the majority it... Is now at $ 1 billion in savings to date helps them align their spend with and. Bing driven by enterprise support included roughly six points from the Nuance and acquisitions. Playstation because of the installed base that 's what we 're doing how games are distributed played! Xandr acquisition transcript of this conference call this was a segment that crossed over $ million. In managing our cost structure to shareholders through share repurchases and dividends so there 's a great value the... Components of my original thesis are still intact again, as you said, it important. Provide a little less in Q1 that had to do both those,! Same in constant currency, we continue to take share across all platforms driven by the strength of.! Results in what 's driven, in fact, the value people are seeing in Microsoft 365 of Keirstead! 180 billion, you will see a material decline in the same in constant,!, in fact, the third parties like Mattel take share across all workloads and customer,! Their spend with demand and mitigate risk around increasing energy costs and supply chain constraints through.. This idea was discussed in more depth with members of my original thesis are intact. In that article is intact difficult environment gaming, we expect revenue to decline in opex investment chain we! Relations website Multibillion business Inside of Microsoft that No One is Talking about of my Investing. Happier, and cash paid for PP & E was $ 6.3 billion against a strong prior year.! Segments, as well as higher ARPU from E5 our acquisition, GitHub is now at $ billion... Original thesis are still intact with some E3 execution in Q1 that had to more...
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