Microsoft’s comments about their FY22 Q1 results to market analysts covered lots about Teams and not much else about Microsoft 365. Is that a problem? Well, Teams is a barometer for the health of the Microsoft 365 ecosystem. If it’s doing well, then all the component parts are too. Although Microsoft didn’t give any new numbers for Office 365 or Teams users, strong growth in seats and revenue were reported. And Azure AD now has 500 million monthly active users.