Microsoft reported a strong start to fiscal year 2022, with revenue increasing by 22% to $45.3 billion and operating income up by 27% to $20.2 billion. The Microsoft Cloud generated $20.7 billion in revenue, a 36% increase year over year. Diluted earnings per share were $2.71 GAAP and $2.27 non-GAAP, representing increases of 49% and 25%, respectively.