MICROSOFT CORP (MSFT) SEC Filing 10-K Annual report for the fiscal year ending Thursday, June 30, 2016

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Exhibit 99.1

Microsoft Cloud Strength Highlights Third Quarter Results

Commercial cloud annualized revenue run rate exceeds $10.0 billion; Windows 10 active on over 270 million devices

REDMOND, Wash. — April 21, 2016 — Microsoft Corp. today announced the following results for the quarter ended March 31, 2016:

 

    Revenue was $20.5 billion GAAP, and $22.1 billion non-GAAP
    Operating income was $5.3 billion GAAP, and $6.8 billion non-GAAP
    Net income was $3.8 billion GAAP, and $5.0 billion non-GAAP
    Earnings per share was $0.47 GAAP, and $0.62 non-GAAP

“Organizations using digital technology to transform and drive new growth increasingly choose Microsoft as a partner,” said Satya Nadella, chief executive officer at Microsoft. “As these organizations turn to us, we’re seeing momentum across Microsoft’s cloud services and with Windows 10.”

The following table reconciles our financial results reported in accordance with generally accepted accounting principles (“GAAP”) to non-GAAP financial results. Microsoft has provided this non-GAAP financial information to aid investors in better understanding the company’s performance. All growth comparisons relate to the corresponding period in the last fiscal year.

 

     

Three Months Ended March 31,

 

                                 
 ($ in millions, except per share amounts)        Revenue              Operating    
Income
         Net Income         

    Earnings per    

Share

 

2015 As Reported (GAAP)

 

  

 

 

 

 

$21,729

 

 

  

 

  

 

 

 

 

$6,594

 

 

  

 

  

 

 

 

 

$4,985

 

 

  

 

  

 

$0.61

 

 

 

  Integration and Restructuring Charges

 

    

 

-

 

  

 

    

 

190

 

  

 

    

 

119

 

  

 

  

0.01

 

 

2015 As Adjusted (non-GAAP)

 

    

 

$21,729

 

  

 

    

 

$6,784

 

  

 

    

 

$5,104

 

  

 

  

$0.62

 

 

2016 As Reported (GAAP)

 

    

 

$20,531

 

  

 

    

 

$5,283

 

  

 

    

 

$3,756

 

  

 

  

$0.47

 

 

  Net Impact from Revenue Deferrals

 

    

 

1,545

 

  

 

    

 

1,545

 

  

 

    

 

1,217

 

  

 

  

0.15

 

 

2016 As Adjusted (non-GAAP)

 

    

 

$22,076

 

  

 

    

 

$6,828

 

  

 

    

 

$4,973

 

  

 

  

$0.62

 

 

Percentage Change Y/Y (GAAP)

 

    

 

(6)%

 

  

 

    

 

(20)%

 

  

 

    

 

(25)%

 

  

 

  

(23)%

 

 

Percentage Change Y/Y (non-GAAP)

 

    

 

2%

 

  

 

    

 

1%

 

  

 

    

 

(3)%

 

  

 

  

0%

 

 

Percentage Change Y/Y (non-GAAP) Constant Currency

 

    

 

5%

 

  

 

    

 

10%

 

  

 

    

 

6%

 

  

 

  

10%

 

During the quarter, Microsoft returned $6.4 billion to shareholders in the form of share repurchases and dividends.

This quarter’s income tax expense included a catch-up adjustment to account for an expected increase in the full year effective tax rate primarily due to the changing mix of revenue across geographies, as well as between cloud services and software licensing. As such, the GAAP and non-GAAP tax rates were 25% and 24%, respectively.

“Our continued operational and financial discipline drove solid results this quarter,” said Amy Hood, executive vice president and chief financial officer at Microsoft. “We remain focused on investing in our strategic priorities to drive long-term growth.”

Revenue in Productivity and Business Processes grew 1% (up 6% in constant currency) to $6.5 billion, with the following business highlights:

 

    Office commercial products and cloud services revenue grew 7% in constant currency driven by Office 365 revenue growth of 63% in constant currency
    Office consumer products and cloud services revenue grew 6% in constant currency with Office 365 consumer subscribers increasing to 22.2 million
    Dynamics products and cloud services revenue grew 9% in constant currency with Dynamics CRM Online seat adds more than doubling year-over-year


The following information was filed by MICROSOFT CORP on Thursday, April 21, 2016 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0001193125-16-662209
  • Submitted to the SEC: Thursday, July 28, 2016
  • Accepted by the SEC: Thursday, July 28, 2016
  • Period Ending: June 2016
Companies
 

MSFT Morningstar

MICROSOFT CORP

$62.70 +0 (+0%)

Day's Range:
N/A

52-Week Range:
$48.03 to $64.10

Volume:
563

Volume (Avg):
27,874,200

Earnings per Share:
$2.09

PEG / Short / PE Ratios:
2.32 / 2.02 / 30.03

Market Cap:
$487.51B

Book Value:
9.04

EBITDA:
$26.96B