MICROSOFT CORP (MSFT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, June 30, 2018

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Exhibit 99.1

Microsoft Cloud Drives Record Fourth Quarter Results

REDMOND, Wash. — July 19, 2018 — Microsoft Corp. today announced the following results for the quarter ended June 30, 2018, as compared to the corresponding period of last fiscal year:

 

    Revenue was $30.1 billion and increased 17%
    Operating income was $10.4 billion and increased 35%
    Net income was $8.9 billion GAAP and $8.8 billion non-GAAP
    Diluted earnings per share was $1.14 GAAP and $1.13 non-GAAP

“We had an incredible year, surpassing $100 billion in revenue as a result of our teams’ relentless focus on customer success and the trust customers are placing in Microsoft,” said Satya Nadella, chief executive officer of Microsoft. “Our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation.”

The following table reconciles our financial results reported in accordance with generally accepted accounting principles (GAAP) to non-GAAP financial results. Additional information regarding our non-GAAP definition is provided below. All growth comparisons relate to the corresponding period in the last fiscal year.

 

     

Three Months Ended June 30,

 

 

   ($ in millions, except per share amounts)

 

  

  Revenue 

 

    

  Operating  
  Income  

 

    

  Net  
  Income  

 

    

  Diluted  
  Earnings  
  per Share  

 

 

 

  2017 As Reported (GAAP)

 

    

 

$25,605

 

 

 

    

 

$7,682

 

 

 

    

 

$8,069

 

 

 

    

 

$1.03

 

 

 

 

  Restructuring Expenses

 

    

 

-

 

 

 

    

 

306

 

 

 

    

 

243

 

 

 

    

 

0.03

 

 

 

 

  2017 As Adjusted (non-GAAP)

 

    

 

$25,605

 

 

 

    

 

$7,988

 

 

 

    

 

$8,312

 

 

 

    

 

$1.06

 

 

 

 

  2018 As Reported (GAAP)

 

    

 

$30,085

 

 

 

    

 

$10,379

 

 

 

    

 

$8,873

 

 

 

    

 

$1.14

 

 

 

 

  Net TCJA Impact

 

    

 

-

 

 

 

    

 

-

 

 

 

    

 

(104)

 

 

 

    

 

(0.01)

 

 

 

 

  2018 As Adjusted (non-GAAP)

 

    

 

$30,085

 

 

 

    

 

$10,379

 

 

 

    

 

$8,769

 

 

 

    

 

$1.13

 

 

 

 

  Percentage Change Y/Y (GAAP)

 

    

 

17%

 

 

 

    

 

35%

 

 

 

    

 

10%

 

 

 

    

 

11%

 

 

 

 

  Percentage Change Y/Y (non-GAAP)

 

    

 

17%

 

 

 

    

 

30%

 

 

 

    

 

5%

 

 

 

    

 

7%

 

 

 

 

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

 

    

 

15%

 

 

 

    

 

24%

 

 

 

    

 

2%

 

 

 

    

 

3%

 

 

 

GAAP results include a net benefit of $104 million related to the Tax Cuts and Jobs Act (TCJA) for the three months ended June 30, 2018 and a charge of $306 million related to restructuring expenses for the three months ended June 30, 2017, which are excluded from our non-GAAP results.

Microsoft returned $5.3 billion to shareholders in the form of dividends and share repurchases in the fourth quarter of fiscal year 2018, an increase of 16% compared to the fourth quarter of fiscal year 2017.

“Exceptional sales execution delivered double-digit revenue growth across all segments and strong progress against our strategic priorities, anchored by commercial cloud revenue growing 53% year-over-year to $6.9 billion,” said Amy Hood, executive vice president and chief financial officer of Microsoft.


The following information was filed by MICROSOFT CORP on Thursday, July 19, 2018 as an 8K 2.02 statement, which is an earnings 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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Exhibit 10.5 - MATERIAL CONTRACT

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Exhibit 12 - STATEMENT REGARDING CALCULATION OF RATIOS

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Exhibit 21 - SUBSIDARIES OF THE REGISTRANT

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Exhibit 23.1 - CONSENTS OF EXPERTS AND COUNSEL

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Exhibit 31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION

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Exhibit 31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION

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Exhibit 32.1 - SECTION 1350 CERTIFICATION

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Exhibit 32.2 - SECTION 1350 CERTIFICATION

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  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0001564590-18-019062
  • Submitted to the SEC: Friday, August 3, 2018 11:03:33 AM EST
  • Accepted by the SEC: Friday, August 3, 2018
  • Fiscal Year ending: June 2018
  • Industry: Prepackaged Software