In time for the holiday quarter, those likely contributed to the results. Strong execution and continued customer demand for our hybrid cloud offerings drove another quarter of double-digit top and bottom line growth. Operator, we'll take the next question, please. A question on Azure, and it's a two-parter, one part for Satya and one for Amy. Satya Nadella: Let me start, and Amy you can add to it. It's clear that we also have a fantastic alignment of our business model with the interests of our customers. On the other hand, the stock currently carries a Zacks Rank of 3.
We remain committed to an incremental share buyback, beyond the normal quarterly pace, that will fully offset stock consideration issued in the GitHub transaction by the end of this fiscal year. Azure revenue increased 76%, with strong growth from both the consumption and per-user based businesses. Mark Moerdler: Thank you, I really appreciate that. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. And we say the larger, longer-term contracts that is where they show up. With Power Platform, Microsoft is fundamentally democratizing business processes — empowering everyone to make smarter, faster decisions. Amy, you gave a lot of color this quarter, but in the quarter, there was overall transactional weakness.
Make sure to utilize our to uncover the best stocks to buy or sell before they've reported. Operating expenses grew 7%, slightly lower than expectations as some marketing spend shifted to Q3. Put options represent the right, but not the obligation to sell the underlying security at a predetermined price over a set period of time. For capex, we continue to expect the growth rate for the year to moderate even as we meet the high demand for our cloud services. That's what's really leading us to be able to do these types of partnerships that you referenced. And I'll let Amy answer.
It is worth noting, however, that the company has not officially announced its earnings release date. And commercial bookings were strong, growing 18% and 22% in constant currency, driven by solid renewal execution and an increase in the number of larger, longer-term Azure contracts. I have a question for Satya and then for Amy, if you don't mind. Citus, which is the company we just bought for the Postgres capability is something that we're very excited about. Windows commercial products and cloud services grew 13% and 14% in constant currency, with continued customer adoption of our premium offerings. And that's what we're seeing.
This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Notes from and KeyBanc Capital Markets expect big things when Microsoft its fiscal third-quarter earnings on April 24. Now let's move to our outlook. Office consumer revenue grew 1% and 2% in constant currency, below our expectation. . Amy Hood: Thank you, Satya, and good afternoon everyone. Xbox software and services revenue increased 31% and 32% in constant currency, primarily driven by continued strength from a third-party title.
Amy Hood: And to your second question, most of these larger contracts are showing up in that Commercial bookings number, and we reference that. How should we think about contingency planning if we do see a weak or an extended weakening in the global economic climate? First of all, I would say the opportunity for our shareholders when they think about Microsoft has never been better. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. I'm not sure if you're willing to give us sort of a gross kind of trajectory as you look out forward, but I think there's a lot of investor interest in terms of how much visibility on your perspective. Any additional data would be helpful. Thanks a lot, appreciate it.
We continue to pursue our expansive opportunity to transform how games are distributed, played and viewed. So think about their having, and we do expect, chip supply to remain constrained. Michael Spencer: Great, well, thanks, Alex. We think about the relevance of our applications across all device sockets. KeyBanc analyst Brent Bracelin is equally ebullient. Segment gross margin dollars increased 20%.
Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc. Developers will increasingly drive and influence business processes and functions across every organization — and we are committed to giving developers the tools they need to be productive on any platform. I appreciate getting the sort of visibility you have into the, as someone earlier alluded to, transactional businesses. Implied volatility was at the 55 th percentile as of this morning. Now to the results from the More Personal Computing segment. Increasingly, business process automation includes digitizing physical spaces, activities and interactions.