REDMOND, Wash. — Jan. 19, 2012 —
Microsoft Corp. today announced quarterly revenue of $20.89 billion for
the quarter ended Dec. 31, 2011, a 5% increase from the prior year
period. Operating income, net income, and diluted earnings per share for
the quarter were $7.99 billion, $6.62 billion, and $0.78 per share,
compared with $8.17 billion, $6.63 billion and $0.77 per share,
respectively, in the prior year period. Prior year results include
recognition of $224 million of deferred revenue related to the Office
2010 technology guarantee program.
“We
delivered solid financial results, even as we prepare for a launch year
that will accelerate many of our key products and services,” said Steve
Ballmer, chief executive officer at Microsoft. “Coming out of the
Consumer Electronics Show, we’re seeing very positive reviews for our
new phones and PCs, and a strong response to our new Metro style design
that will unify consumer experiences across our phones, PCs, tablets,
and television in 2012.”
The Microsoft
Business Division reported $6.28 billion in second quarter revenue, a 3%
increase from the prior year period, and a 7% increase excluding the
prior year recognition of deferred revenue for the Office 2010
technology guarantee program. Nearly 200 million licenses of Office 2010
have been sold in the 18 months since launch. Revenue from Exchange and
SharePoint grew by 10% or more over the prior year period, and revenue
from Lync and Dynamics CRM grew by more than 30%.
The
Server & Tools business posted $4.77 billion in second quarter
revenue, an 11% increase from the prior year period, reflecting
double-digit revenue growth in Windows Server and SQL Server premium
editions and more than 20% growth in System Center revenue.
“We
saw strong demand for our business products and services, despite the
soft PC market and continuing economic uncertainty in key parts of the
world,” said Peter Klein, chief financial officer at Microsoft. “We
delivered record earnings per share by continuing to manage our costs
while investing for future growth.”
The
Windows and Windows Live Division posted revenue of $4.74 billion, a 6%
decline from the prior period. Microsoft has sold over 525 million
Windows 7 licenses since launch.
The Online
Services Division reported revenue of $784 million, a 10% increase from
the prior year period. Bing organic US market share grew to 15.1% while
Bing-powered US market share, including Yahoo! properties, was
approximately 27%.
The Entertainment &
Devices Division posted revenue of $4.24 billion, an increase of 15%
from the prior period. The Xbox 360 installed base now totals
approximately 66 million consoles and 18 million Kinect sensors. Xbox
LIVE now has 40 million members worldwide, an increase of 33% from the
prior year period.
“In addition to the
continued strength of our commercial business, this holiday season was
the strongest in Microsoft history, thanks to good sales execution and
compelling products like Xbox 360 and Kinect,” said Kevin Turner, chief
operating officer at Microsoft. “We are seeing a lot of excitement for
new devices, from Windows 7 Ultrabooks to new Windows Phones, as well as
growing anticipation for Windows 8.”
Business Outlook
Microsoft
is revising operating expense guidance downward to $28.5 billion to
$28.9 billion for the full year ending June 30, 2012.
Webcast Details
Peter
Klein, chief financial officer, Frank Brod, chief accounting officer,
and Bill Koefoed, general manager of Investor Relations, will host a
conference call and webcast at 2:30 p.m. PST (5:30 p.m. EST) today to
discuss details of the company’s performance for the quarter and certain
forward-looking information. The session may be accessed at http://www.microsoft.com/investor/. The webcast will be available for replay through the close of business on Jan. 19, 2013.
About Microsoft
Founded
in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software,
services and solutions that help people and businesses realize their
full potential.
Forward-Looking Statements
Statements
in this release that are “forward-looking statements” are based on
current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of factors
such as:
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execution and competitive risks in transitioning to cloud-based computing;
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challenges to Microsoft’s business model;
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intense competition in all of Microsoft’s markets;
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Microsoft’s continued ability to protect its intellectual property rights;
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claims that Microsoft has infringed the intellectual property rights of others;
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the possibility of unauthorized disclosure of significant portions of Microsoft’s source code;
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actual or perceived security vulnerabilities in Microsoft products that could reduce revenue or lead to liability;
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improper disclosure of personal data that could result in liability and harm to Microsoft’s reputation;
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outages
and disruptions of services provided to customers directly or through
third parties if Microsoft fails to maintain an adequate operations
infrastructure;
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government litigation and regulation affecting how Microsoft designs and markets its products;
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Microsoft’s ability to attract and retain talented employees;
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delays in product development and related product release schedules;
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significant business investments that may not gain customer acceptance and produce offsetting increases in revenue;
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unfavorable
changes in general economic conditions, disruption of our partner
networks or sales channels, or the availability of credit that affect
demand for Microsoft’s products and services or the value of our
investment portfolio;
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adverse results in legal disputes;
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unanticipated tax liabilities;
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quality or supply problems in Microsoft’s consumer hardware or other vertically integrated hardware and software products;
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impairment of goodwill or amortizable intangible assets causing a charge to earnings;
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exposure to increased economic and regulatory uncertainties from operating a global business;
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geopolitical conditions, natural disaster, cyberattack or other catastrophic events disrupting Microsoft’s business; and
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acquisitions, joint ventures and strategic alliances that adversely affect the business.
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For
further information regarding risks and uncertainties associated with
Microsoft’s business, please refer to the “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” and “Risk
Factors” sections of Microsoft’s SEC filings, including, but not limited
to, its annual report on Form 10-K and quarterly reports on Form 10-Q,
copies of which may be obtained by contacting Microsoft’s Investor
Relations department at (800) 285-7772 or at Microsoft’s Investor
Relations website at http://www.microsoft.com/investor/.
All
information in this release is as of January 19, 2012. The company
undertakes no duty to update any forward-looking statement to conform
the statement to actual results or changes in the company’s
expectations.
For more information, financial analysts and investors only:
Bill Koefoed, general manager, Investor Relations, (425) 706-3703
Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news/.
Web links, telephone numbers and titles were correct at time of
publication, but may since have changed. Shareholder and financial
information, as well as today’s 2:30 p.m. PST conference call with
investors and analysts, is available at http://www.microsoft.com/investor/.
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