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Microsoft Form 10-Q: Q2 FY2017
Microsoft’s financial performance for the second quarter of fiscal year 2017 reflects a strategic pivot toward cloud-based services and enterprise productivity, underscored by the $27 billion acquisition of LinkedIn.
- Microsoft completed the acquisition of LinkedIn on December 8, 2016, for a preliminary purchase price of $27.0 billion, primarily funded through $26.4 billion in cash.
- Azure revenue grew by 104% during the quarter, serving as the primary driver for the Intelligent Cloud segment's 8% overall revenue increase.
- As of December 31, 2016, Microsoft held $122.8 billion in cash, cash equivalents, and short-term investments, up from $113.2 billion at the end of June 2016.
Microsoft Form 10-Q: Q1 FY2017
Microsoft’s financial performance for the first quarter of fiscal year 2017 reflects a strategic pivot toward cloud-based services and productivity software, even as the company navigates significant restructuring and market volatility.
- Microsoft held $136.9 billion in cash, cash equivalents, and short-term investments as of September 30, 2016, a significant increase from $113.2 billion on June 30, 2016.
- Total long-term debt increased to $60.2 billion as of September 30, 2016, up from $40.6 billion on June 30, 2016, following the issuance of $19.8 billion in debt securities in August 2016.
- Diluted earnings per share (EPS) for the quarter ended September 30, 2016, was $0.60, down from $0.61 in the same period of the prior year, with Windows 10 revenue deferrals negatively impacting EPS by $0.16.
Microsoft Form 10-K: FY2016
During fiscal year 2016, Microsoft executed a fundamental strategic pivot toward a mobile-first, cloud-first business model.
- Microsoft announced the acquisition of LinkedIn in June 2016 for approximately $26.2 billion as part of its long-term strategic growth plan.
- For the first time in fiscal year 2016, service and other revenue exceeded 10% of total revenue, reflecting a significant shift toward cloud-based solutions like Office 365, Azure, and Dynamics CRM Online.
- The company is transitioning its revenue recognition model, as customers increasingly shift from transaction-based products to subscription-based cloud services, resulting in revenue being recognized over time rather than at the point of sale.
Microsoft Form 10-Q: Q3 FY2016
Microsoft’s financial performance for the third quarter of fiscal year 2016 reflects a pivotal strategic transition toward a cloud-first, mobile-first business model.
- Microsoft’s diluted EPS for the nine months ended March 31, 2016, was $1.70, down from $1.86 in the same period of the prior year.
- Corporate and Other revenue decreased by $5.0 billion for the nine months ended March 31, 2016, primarily due to the shift to ratable revenue recognition for Windows 10, which resulted in a net deferral of $4.6 billion.
- As of March 31, 2016, the total carrying value of Microsoft’s long-term debt reached $40.9 billion, a significant increase from the $30.3 billion reported on June 30, 2015.
Microsoft Form 10-Q: Q2 FY2016
Microsoft’s financial results for the second quarter of fiscal year 2016 reflect a pivotal transition toward a mobile-first, cloud-first strategy.
- Microsoft's commercial cloud business, including Office 365 Commercial, Azure, and Dynamics CRM Online, reached an annualized run rate exceeding $9.4 billion as of December 2015.
- Azure revenue from premium services nearly tripled year-over-year, and Microsoft Dynamics CRM Online seats more than doubled during the same period.
- Windows 10 adoption reached over 200 million devices, while Xbox Live monthly active users grew 30% year-over-year to 48 million.
Microsoft Form 10-Q: Q1 FY2016
For the first quarter of fiscal year 2016, ending September 30, 2015, Microsoft navigated a significant organizational transition toward a mobile-first, cloud-first strategy.
- Microsoft’s Gaming segment encompasses Xbox hardware, Xbox Live (including subscriptions, advertising, and transactions), first-party video games, and third-party game royalties.
- The company’s effective tax rate dropped to 16% for the quarter ended September 30, 2015, down from 23% in the same period of 2014, primarily due to earnings in foreign jurisdictions like Ireland, Singapore, and Puerto Rico.
- As of September 30, 2015, Microsoft held $700 million in common and preferred stock investments that are either restricted for more than one year or are not publicly traded.
Microsoft Form 10-K: FY2015
During fiscal year 2015, Microsoft executed a fundamental strategic pivot toward a mobile-first, cloud-first business model.
- Microsoft recorded a $7.5 billion impairment charge in Q4 2015 related to its Phone Hardware business, which was primarily formed following the acquisition of Nokia's Devices and Services (NDS) business on April 25, 2014.
- Research and development expenses increased by $665 million (6%) in fiscal year 2015, driven largely by $739 million in expenses associated with the NDS business.
- As of June 30, 2015, Microsoft had $21.9 billion remaining of the $40.0 billion share repurchase program authorized by the Board of Directors in September 2013.
Microsoft Form 10-K: FY2014
During fiscal year 2014, Microsoft underwent a fundamental strategic transformation, reorganizing its business into Devices and Consumer and Commercial segments to support a mobile-first, cloud-first operating model.
- Operating income grew by $5.0 billion (23%) in FY2014, primarily driven by the absence of a $6.2 billion goodwill impairment charge recorded in the prior fiscal year.
- Cost of revenue increased by $2.7 billion (16%), largely due to a $900 million inventory adjustment for Surface RT, payments to Nokia for strategic initiatives, and increased hardware-related expenses.
- Microsoft incurred a $733 million (€561 million) fine from the European Commission during FY2014 for failing to comply with a 2009 agreement regarding the display of a 'Browser Choice Screen' on Windows PCs.