REDMOND, Wash. — Jan. 24, 2013 —
Microsoft Corp. today announced quarterly revenue of $21.46 billion for
the quarter ended December 31, 2012. Operating income, net income, and
diluted earnings per share for the quarter were $7.77 billion, $6.38
billion, and $0.76 per share.
These financial results reflect the net deferral of revenue for
the Windows Upgrade Offer, Office Upgrade Offer and Pre-sales, and the
Entertainment and Devices Division Video Game Deferral, partially offset
by the recognition of previously deferred revenue for Windows 8
Pre-sales. The following table reconciles these financial results
reported in accordance with generally accepted accounting principles
(GAAP) to non-GAAP financial results. We have provided this non-GAAP
financial information to aid investors in better understanding the
company’s performance.
“Our big, bold ambition to reimagine Windows as well as launch
Surface and Windows Phone 8 has sparked growing enthusiasm with our
customers and unprecedented opportunity and creativity with our partners
and developers,” said Steve Ballmer, chief executive officer at
Microsoft. “With new Windows devices, including Surface Pro, and the new
Office on the horizon, we’ll continue to drive excitement for the
Windows ecosystem and deliver our software through devices and services
people love and businesses need.”
The Windows Division posted revenue of $5.88 billion, a 24%
increase from the prior year period. Adjusting for the net deferral of
revenue for the Windows Upgrade Offer and the recognition of the
previously deferred revenue from Windows 8 Pre-sales, Windows Division
non-GAAP revenue increased 11% for the second quarter. Microsoft has
sold over 60 million Windows 8 licenses to date.
"We saw strong growth in our enterprise business driven by
multi-year commitments to the Microsoft platform, which positions us
well for long-term growth,” said Peter Klein, chief financial officer at
Microsoft. “Multi-year licensing revenue grew double-digits across
Windows, Server & Tools, and the Microsoft Business Division.”
The Server & Tools business reported $5.19 billion of revenue,
a 9% increase from the prior year period, driven by double-digit
percentage revenue growth in SQL Server and System Center.
“We see strong momentum in our enterprise business. With the
launch of SQL Server 2012 and Windows Server 2012, we continue to see
healthy growth in our data platform and infrastructure businesses and
win share from our competitors,” said Kevin Turner, chief operating
officer at Microsoft. “With the coming launch of the new Office, we will
provide a cloud-enabled suite of products that will deliver
unparalleled productivity and flexibility.”
The Microsoft Business Division posted $5.69 billion of revenue, a
10% decrease from the prior year period. Adjusting for the impact of
the Office Upgrade Offer and Pre-sales, Microsoft Business Division
non-GAAP revenue increased 3% for the second quarter. Revenue from
Microsoft’s productivity server offerings – collectively including Lync,
SharePoint, and Exchange – continued double-digit percentage growth.
The Online Services Division reported revenue of $869 million, an
11% increase from the prior year period. Online advertising revenue grew
15% driven by an increase in revenue per search.
The Entertainment and Devices Division posted revenue of $3.77
billion, a decrease of 11% from the prior year period. Adjusting for the
Video Game Deferral, the division’s non-GAAP revenue decreased 2% for
the second quarter. Xbox continues to be the top-selling console in the
United States. During the quarter, Microsoft launched Windows Phone 8
with a broad array of carriers and devices.
Business Outlook
Microsoft reaffirms fiscal year 2013 operating expense guidance of $30.3 billion to $30.9 billion.
Webcast Details
Peter Klein, chief financial officer, Frank Brod, chief accounting
officer, and Chris Suh, 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. 24, 2014.
Adjusted Financial Results and Non-GAAP Measures
For second quarter fiscal year 2013 GAAP revenue, operating
income, and earnings per share growth included the net deferral of
revenue for the Windows Upgrade Offer, the Office Upgrade Offer and
Pre-sales, and the Entertainment and Devices Division Video Game
Deferral, and the recognition of previously deferred revenue for Windows
8 Pre-sales. These items are defined in our Form 10-Q for the quarterly
period ended December 31, 2012. In addition to these financial results
reported in accordance with generally accepted accounting principles
(GAAP), we have provided certain non-GAAP financial information to aid
investors in better understanding the company’s performance. Presenting
these measures without the impact of these items gives additional
insight into operational performance and helps clarify trends affecting
the company’s business. For comparability of reporting, management
considers this information in conjunction with GAAP amounts in
evaluating business performance. These non-GAAP financial measures
should not be considered as a substitute for, or superior to, the
measures of financial performance prepared in accordance with GAAP.
Non-GAAP Reconciliations
Windows Division
Microsoft Business Division
Entertainment and Devices Division
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:
- intense competition in all of Microsoft’s markets;
- execution and competitive risks from our increasing focus on devices and services;
- significant business investments that may not gain customer acceptance and produce offsetting increases in revenue;
- Microsoft’s continued ability to protect its intellectual property rights;
- claims that Microsoft has infringed the intellectual property rights of others;
- the possibility of unauthorized disclosure of significant portions of Microsoft’s source code;
- cyber-attacks and security vulnerabilities in Microsoft products that could reduce revenue or lead to liability;
- improper disclosure of personal data that could result in liability and harm to Microsoft’s reputation;
- outages and disruptions of services provided to customers directly or through third parties if Microsoft fails to maintain an adequate operations infrastructure;
- government litigation and regulation affecting how Microsoft designs and markets its products;
- Microsoft’s ability to attract and retain talented employees;
- delays in product development and related product release schedules;
- 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;
- adverse results in legal disputes;
- unanticipated tax liabilities;
- quality or supply problems in Microsoft’s consumer hardware or other vertically integrated hardware and software products;
- impairment of goodwill or amortizable intangible assets causing a charge to earnings;
- exposure to increased economic and regulatory uncertainties from operating a global business;
- geopolitical conditions, natural disaster, cyber-attack or other catastrophic events disrupting Microsoft’s business; and
- acquisitions, joint ventures, and strategic alliances that adversely affect the business.
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 Jan. 24, 2013. 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:
Chris Suh, general manager, Investor Relations, (425) 706-4400
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/.
0 comentarii:
Post a Comment