Microsoft has delivered stronger revenue growth than Apple over the FY2022–FY2025 period, though the picture is more nuanced than a simple "consistent double-digit" story. MSFT grew from $198.3B in FY2022 [MSFT:Q0] to $281.7B in FY2025 [MSFT:Q3], a cumulative gain of roughly 42%. Notably, the early part of that window was more modest—FY2022-to-FY2023 growth came in around 7%—before the trajectory steepened meaningfully, with FY2023-to-FY2024 and FY2024-to-FY2025 both posting approximately 15% year-over-year gains [MSFT:Q2, MSFT:Q3], driven in large part by Azure cloud services and early AI monetization. Apple's path was flatter and more uneven: revenue slipped from $394.3B in FY2022 [AAPL:Q0] to $383.3B in FY2023 [AAPL:Q1], recovered only marginally to $391.0B in FY2024 [AAPL:Q2], and then rose to $416.2B in FY2025 [AAPL:Q3]. That FY2025 result represents roughly 6.4% year-over-year growth—a step up from the near-flat FY2024 recovery, though the specific drivers of the improvement are not fully detailed in available filings. Over the full three-year span, Apple's cumulative growth of approximately 6% stands in stark contrast to Microsoft's ~42%.
AAPL: Apple's revenue growth has been sluggish in aggregate, declining from $394.3B in FY2022 [AAPL:Q0] to a trough of $383.3B in FY2023 [AAPL:Q1] before recovering to $416.2B in FY2025 [AAPL:Q3]. The FY2025 result marks a step-up of roughly 6.4% year-over-year from $391.0B in FY2024 [AAPL:Q2], which is an improvement over the prior year's near-stagnation, though the three-year cumulative growth of approximately 6% still lags well behind peers benefiting from stronger secular tailwinds.
MSFT: Microsoft expanded from $198.3B in FY2022 [MSFT:Q0] to $245.1B in FY2024 [MSFT:Q2] and reached $281.7B in FY2025 [MSFT:Q3]. Growth was uneven across the window—approximately 7% in the first year before accelerating to roughly 15% in each of the subsequent two fiscal years—with durable demand for Azure cloud services and early AI product monetization as key contributors to the more recent acceleration.