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Microsoft Corp (MSFT) SEC Filing 10-K Annual report for the fiscal year ending Thursday, June 30, 2016

Microsoft Corp

CIK: 789019 Ticker: MSFT

Exhibit 99.1

Microsoft Cloud Strength Highlights Fourth Quarter Results

Commercial cloud annualized revenue run rate exceeds $12.1 billion

REDMOND, Wash. — July 19, 2016 —

Microsoft Corp. today announced the following results for the quarter ended June 30, 2016:

 

    Revenue was $20.6 billion GAAP, and $22.6 billion non-GAAP
    Operating income was $3.1 billion GAAP, and $6.2 billion non-GAAP
    Net income was $3.1 billion GAAP, and $5.5 billion non-GAAP
    Diluted earnings per share was $0.39 GAAP, and $0.69 non-GAAP

“This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations,” said Satya Nadella, chief executive officer at Microsoft. “The Microsoft Cloud is seeing significant customer momentum and we’re well positioned to reach new opportunities in the year ahead.”

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 non-GAAP definitions 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
(Loss)
         Net Income    
(Loss)
    

    Diluted Earnings    
(Loss)

per Share

 

2015 As Reported (GAAP)

 

  

 

 

 

 

$22,180

 

 

  

 

  

 

 

 

 

$(2,053)

 

 

  

 

  

 

 

 

 

$(3,195)

 

 

  

 

  

 

$(0.40)

 

 

  Impairment, Integration, and Restructuring Expenses

 

    

 

-

 

  

 

    

 

8,438

 

  

 

    

 

8,262

 

  

 

  

1.02

 

 

2015 As Adjusted (non-GAAP)

 

    

 

$22,180

 

  

 

    

 

$6,385

 

  

 

    

 

$5,067

 

  

 

  

$0.62

 

 

2016 As Reported (GAAP)

 

    

 

$20,614

 

  

 

    

 

$3,080

 

  

 

    

 

$3,122

 

  

 

  

$0.39

 

 

  Net Impact from Windows 10 Revenue Deferrals

 

    

 

2,028

 

  

 

    

 

2,028

 

  

 

    

 

1,467

 

  

 

  

0.19

 

 

  Impairment, Integration, and Restructuring Expenses

 

    

 

-

 

  

 

    

 

1,110

 

  

 

    

 

895

 

  

 

  

0.11

 

 

2016 As Adjusted (non-GAAP)

 

    

 

$22,642

 

  

 

    

 

$6,218

 

  

 

    

 

$5,484

 

  

 

  

$0.69

 

 

Percentage Change Y/Y (GAAP)

 

    

 

(7)%

 

  

 

    

 

*

 

  

 

    

 

*

 

  

 

  

*

 

 

Percentage Change Y/Y (non-GAAP)

 

    

 

2%

 

  

 

    

 

(3)%

 

  

 

    

 

8%

 

  

 

  

11%

 

 

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

 

    

 

5%

 

  

 

    

 

6%

 

  

 

    

 

23%

 

  

 

  

27%

 

* Not meaningful

During the quarter, Microsoft returned $6.4 billion to shareholders in the form of share repurchases and dividends.

The current quarter effective tax rate reflected a favorable mix of our income between the U.S. and foreign countries, as well as benefits associated with distributions from foreign affiliates. As such, the GAAP and non-GAAP tax rates were 7% and 15%, respectively.

“This fiscal year we invested in innovation and expanded our market presence in key product areas and geographies,” said Amy Hood, executive vice president and chief financial officer at Microsoft. “I am pleased with the execution from our sales teams and partners this quarter who delivered a strong finish to the fiscal year.”


The following information was filed by Microsoft Corp (MSFT) on Tuesday, July 19, 2016 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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Document And Entity Information
Balance Sheets
Balance Sheets (parenthetical)
Cash Flows Statements
Comprehensive Income Statements
Comprehensive Income Statements (parenthetical)
Income Statements
Stockholders' Equity Statements
Accounting Policies
Accounting Policies (policies)
Accounting Policies (tables)
Accounting Policies - Additional Information (detail)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (tables)
Acquired Intangible Assets (detail)
Adoption Of New Standard Impact On Previously Reported Results (detail)
Allowance For Doubtful Accounts (detail)
Assets And Liabilities Measured At Fair Value On Recurring Basis (detail)
Assumptions Used In Estimating The Fair Value Of Stock Award Grants (detail)
Basic And Diluted Earnings Per Share (detail)
Business Combinations
Business Combinations (tables)
Business Combinations - Additional Information (detail)
Carrying Amount Of Goodwill (detail)
Changes In Restructuring Liability (detail)
Changes In Unrecognized Tax Benefits (detail)
Commitments
Commitments (tables)
Commitments - Additional Information (detail)
Components Of Inventories (detail)
Components Of Other Income (expense), Net (detail)
Components Of Property And Equipment (detail)
Contingencies
Contingencies - Additional Information (detail)
Corporate And Other Operating Income (loss) Activity (detail)
Corporate And Other Operating Income (loss) Activity (parenthetical) (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt Investment Maturities (detail)
Deferred Income Tax Assets And Liabilities (detail)
Derivatives
Derivatives (tables)
Derivatives - Additional Information (detail)
Difference Between Income Taxes Computed At Federal Statutory Rate And Provision For Income Taxes (detail)
Dividends Declared (detail)
Earnings Per Share
Earnings Per Share (tables)
Employee Purchased Shares (detail)
Employee Stock And Savings Plans
Employee Stock And Savings Plans (tables)
Employee Stock And Savings Plans - Additional Information (detail)
Estimated Future Amortization Expense Related To Intangible Assets (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Values Of Derivative Instruments (detail)
Finite-lived Intangible Assets (detail)
Finite-lived Intangible Assets (parenthetical) (detail)
Future Minimum Rental Commitments Under Non-cancellable Operating Leases (detail)
Gains (losses) On Fair Value Hedges And Related Hedged Items (detail)
Gains (losses) Related To Cash Flow Hedges (detail)
Gains (losses) Related To Cash Flow Hedges (parenthetical) (detail)
Goodwill
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Income (loss) Before Income Taxes (detail)
Income Taxes
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Intangible Assets
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Intangible Assets Acquired (detail)
Inventories
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Investment Components, Including Associated Derivatives But Excluding Held To Maturity Investments (detail)
Investments
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Investments - Cost Method - Additional Information (detail)
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Long-lived Assets, Excluding Financial Instruments And Tax Assets, Classified By Location Of Controlling Statutory Company (detail)
Long-term Debt (detail)
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Major Classes Of Assets And Liabilities To Which We Allocated The Purchase Price (detail)
Major Classes Of Assets And Liabilities To Which We Allocated The Purchase Price (parenthetical) (detail)
Maturities Of Long-term Debt (detail)
Net Recognized Gains (losses) On Investments (detail)
Non-designated Derivative Gains (losses) (detail)
Operating Income (loss) By Segment (detail)
Other Income (expense), Net
Other Income (expense), Net (tables)
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Property And Equipment (tables)
Property And Equipment - Additional Information (detail)
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Quarterly Information (unaudited)
Quarterly Information (unaudited) (detail)
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Quarterly Information (unaudited) (tables)
Reconciliation Of Total Assets Measured At Fair Value On Recurring Basis To Balance Sheet Presentation (detail)
Restructuring Charges
Restructuring Charges (tables)
Restructuring Charges - Additional Information (detail)
Revenue Classified By Major Geographic Areas (detail)
Revenue Classified By Significant Product And Service Offerings (detail)
Revenue Classified By Significant Product And Service Offerings (parenthetical) (detail)
Segment Information And Geographic Data
Segment Information And Geographic Data (tables)
Segment Information And Geographic Data - Additional Information (detail)
Segment Revenue (detail)
Share Repurchases (detail)
Share Repurchases (parenthetical) (detail)
Shares Of Common Stock Outstanding (detail)
Stock Plan Activity (detail)
Stock-based Compensation Expense And Related Income Tax Benefits (detail)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (detail)
Summary Of Changes In Accumulated Other Comprehensive Income By Component (detail)
Summary Of Changes In Accumulated Other Comprehensive Income By Component (parenthetical) (detail)
Supplemental Consolidated Results On Unaudited Pro Forma Basis, As If The Acquisition Had Been Consummated On Beginning Of Period (detail)
Unearned Revenue
Unearned Revenue (tables)
Unearned Revenue - Additional Information (detail)
Unearned Revenue By Segment (detail)
Unrealized Losses On Investments (detail)
Ticker: MSFT
CIK: 789019
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-662209
Submitted to the SEC: Thu Jul 28 2016 4:12:18 PM EST
Accepted by the SEC: Thu Jul 28 2016
Period: Thursday, June 30, 2016
Industry: Prepackaged Software

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