Microsoft's Gaming division made more revenue last year than LinkedIn. That's not the headline, but it probably should be.
The FY2025 annual report breaks out the revenue segments over $10B: Server Products & Cloud (Azure and the rest) at $98.4B, Microsoft 365 Commercial at $87.8B, Gaming at $23.5B, LinkedIn at $17.8B, Windows & Devices at $17.3B, and Search & News Advertising at roughly $14B.
What the numbers actually say
Azure and M365 Commercial alone account for two-thirds of the company. Windows — the thing most people think of when they hear "Microsoft" — is about 6% of revenue.
This is a cloud and productivity company that also makes an operating system and a games console. Not the other way around.
A caveat worth noting
These are revenue figures, not profit. Microsoft doesn't publish margins per product. Gaming consoles are famously low-margin, so the profit picture could look very different. But the strategic direction is clear regardless: this company's future is Azure and M365, and everything else is secondary.
Worth bearing in mind the next time someone describes Microsoft as "a Windows company."
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