Microsoft announced a major revenue boost for its Windows advertising network, with its ad arm earning $5.7 billion in 2016, up from $3.5 billion in 2015.
Microsoft will make $7 billion, or almost half of the combined revenue it earned in 2014.
The new figure is a huge jump from the $4.3 billion Microsoft earned in the same quarter last year, but it’s still down slightly from $9.3 million in 2014 when the company earned $5 billion.
Microsoft is also doubling its ad spending, to $3 billion in the 2016 fiscal year, from $2.4 billion in 2014, and the company has doubled its ad revenue from its current $3-billion per quarter.
“Our ad platform is strong, and it’s been growing at a rapid rate, thanks in part to the strong growth of Bing, Cortana, and Bing Ads,” Microsoft Chief Financial Officer Marc Benioff said in a press release.
“Our new ad platform also has tremendous growth potential.”
Microsoft will also double the amount of time its advertisers spend on its Bing Ads platform, from 15 minutes to two minutes per visit.
And Microsoft is doubling the amount its ad buyers spend on Bing Ads, from 10 cents to 15 cents per ad.
Bing Ads is also growing faster than the average search engine, with a 26% increase in revenue over last year.
Despite these changes, Microsoft still hasn’t released its full 2016 financial results.
In March, Microsoft released a report on its 2016 results, which detailed its revenue and earnings, as well as revenue and profits, for the fiscal year that ended March 31.
Topping that list was Bing Ads revenue, which grew 23.2% year-over-year to $2,732 million.
Next up was Xbox Advertising, with revenue rising 12.7% year over year to $1,831 million.
The company said that Xbox Advertising revenue grew from $543 million in the previous fiscal year to more than $1 billion in this year’s fiscal year.
The ad-related revenue for the year is projected to grow to $7.6 billion, up 3% from last year’s $6.4 bn.