MICROSOFT CORP (MSFT) SEC Filing 10-K Annual report for the fiscal year ending Friday, June 30, 2017

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Exhibit 99.1

Microsoft Cloud Strength Highlights Fourth Quarter Results

Commercial cloud annualized revenue run rate exceeds $18.9 billion

REDMOND, Wash. — July 20, 2017 — Microsoft Corp. today announced the following results for the quarter ended June 30, 2017:

 

    Revenue was $23.3 billion GAAP, and $24.7 billion non-GAAP

 

    Operating income was $5.3 billion GAAP, and $7.0 billion non-GAAP

 

    Net income was $6.5 billion GAAP, and $7.7 billion non-GAAP

 

    Diluted earnings per share was $0.83 GAAP, and $0.98 non-GAAP

“Innovation across our cloud platforms drove strong results this quarter,” said Satya Nadella, chief executive officer at Microsoft, “Customers are looking to Microsoft and our thriving partner ecosystem to accelerate their own digital transformations and to unlock new opportunity in this era of intelligent cloud and intelligent edge.”

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. Additional information regarding our non-GAAP definition is provided below. The non-GAAP financial measures presented in this release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. 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  

 

 

 

  2016 As Reported (GAAP)

 

    

 

$20,614

 

 

 

    

 

$3,080

 

 

 

    

 

$3,122

 

 

 

    

 

$0.39

 

 

 

 

    Net Impact from Windows 10 Revenue Deferrals

 

    

 

2,027

 

 

 

    

 

2,027

 

 

 

    

 

1,466

 

 

 

    

 

0.19

 

 

 

 

    Impairment and Restructuring Expenses

 

    

 

-

 

 

 

    

 

1,110

 

 

 

    

 

895

 

 

 

    

 

0.11

 

 

 

 

  2016 As Adjusted (non-GAAP)

 

    

 

$22,641

 

 

 

    

 

$6,217

 

 

 

    

 

$5,483

 

 

 

    

 

$0.69

 

 

 

 

  2017 As Reported (GAAP)

 

    

 

$23,317

 

 

 

    

 

$5,330

 

 

 

    

 

$6,513

 

 

 

    

 

$0.83

 

 

 

 

    Net Impact from Windows 10 Revenue Deferrals

 

    

 

1,383

 

 

 

    

 

1,383

 

 

 

    

 

909

 

 

 

    

 

0.12

 

 

 

 

    Impairment and Restructuring Expenses

 

    

 

-

 

 

 

    

 

306

 

 

 

    

 

243

 

 

 

    

 

0.03

 

 

 

 

  2017 As Adjusted (non-GAAP)

 

    

 

$24,700

 

 

 

    

 

$7,019

 

 

 

    

 

$7,665

 

 

 

    

 

$0.98

 

 

 

 

  Percentage Change Y/Y (GAAP)

 

    

 

13%

 

 

 

    

 

73%

 

 

 

    

 

109%

 

 

 

    

 

112%

 

 

 

 

  Percentage Change Y/Y (non-GAAP)

 

    

 

9%

 

 

 

    

 

13%

 

 

 

    

 

40%

 

 

 

    

 

42%

 

 

 

 

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

 

    

 

10%

 

 

 

    

 

16%

 

 

 

    

 

42%

 

 

 

    

 

43%

 

 

 

The current quarter effective tax rate was (17)% and (6)% in GAAP and non-GAAP, respectively. The tax rates reflect a $1.8 billion impact related to the utilization of prior years’ losses from Microsoft’s phone business that were not deductible in the years incurred. As a result of this tax item, earnings per share for the quarter increased by $0.23.

Microsoft returned $4.6 billion to shareholders in the form of share repurchases and dividends in the fourth quarter of fiscal year 2017.

“We delivered a strong finish to the year with 30% growth in commercial bookings this quarter,” said Amy Hood, executive vice president and chief financial officer at Microsoft. “We will continue to invest in key areas that drive future growth for Microsoft and our customers.”


The following information was filed by MICROSOFT CORP on Thursday, July 20, 2017 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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Exhibit 10.3 - 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-14A/15D-14A 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: 0001564590-17-014900
  • Submitted to the SEC: Wednesday, August 2, 2017
  • Accepted by the SEC: Wednesday, August 2, 2017
  • Period Ending: June 2017
Companies
 

MSFT Morningstar

MICROSOFT CORP

$72.49 +0.09 (+0.12%)

Day's Range:
$71.93 to $72.84

52-Week Range:
$55.61 to $74.42

Volume:
18,761,491

Volume (Avg):
24,364,200

Earnings per Share:
$2.71

PEG / Short / PE Ratios:
2.27 / 1.50 / 26.75

Market Cap:
$558.34B

Book Value:
9.39

EBITDA:
$30.43B

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