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Exhibit 99.1
Microsoft Cloud Strength Powers Record First Quarter Results
REDMOND, Wash. October 24, 2018 Microsoft Corp. today announced the following results for the quarter ended September 30, 2018, as compared to the corresponding period of last fiscal year:
| Revenue was $29.1 billion and increased 19% |
| Operating income was $10.0 billion and increased 29% |
| Net income was $8.8 billion and increased 34% |
| Diluted earnings per share was $1.14 and increased 36% |
We are off to a great start in fiscal 2019, a result of our innovation and the trust customers are placing in us to power their digital transformation, said Satya Nadella, chief executive officer of Microsoft. Were excited to help our customers build the digital capability they need to thrive and grow, with a business model that is fundamentally aligned to their success.
Microsoft returned $6.1 billion to shareholders in the form of dividends and share repurchases in the first quarter of fiscal year 2019, an increase of 27% compared to the first quarter of fiscal year 2018.
Our record results for Q1 reflect our commitment to long-term strategic investments and consistent execution to drive revenue growth and operating margin expansion, said Amy Hood, executive vice president and chief financial officer of Microsoft. We see continued demand for our cloud offerings, reflected in our commercial cloud revenue of $8.5 billion, up 47% year over year.
Revenue in Productivity and Business Processes was $9.8 billion and increased 19% (up 18% in constant currency), with the following business highlights:
| Office commercial products and cloud services revenue increased 17% (up 16% in constant currency) driven by Office 365 commercial revenue growth of 36% (up 35% in constant currency) |
| Office consumer products and cloud services revenue increased 16% (up 17% in constant currency) with continued growth in Office 365 consumer subscribers to 32.5 million |
| LinkedIn revenue increased 33% (up 33% in constant currency) with record levels of engagement highlighted by LinkedIn sessions growth of 34% |
| Dynamics products and cloud services revenue increased 20% (up 20% in constant currency) driven by Dynamics 365 revenue growth of 51% (up 49% in constant currency) |
Revenue in Intelligent Cloud was $8.6 billion and increased 24% (up 24% in constant currency), with the following business highlights:
| Server products and cloud services revenue increased 28% (up 28% in constant currency) driven by Azure revenue growth of 76% (up 76% in constant currency) |
| Enterprise Services revenue increased 6% (up 6% in constant currency) |
Revenue in More Personal Computing was $10.7 billion and increased 15% (up 15% in constant currency), with the following business highlights:
| Windows OEM revenue increased 3% (up 3% in constant currency) driven by OEM Pro revenue growth of 8% |
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Microsoft Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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Gross margin increased $1.3 billion or 28%, driven by growth in server products and cloud services revenue and cloud services scale and efficiencies.
These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of a significant portion of a reporting unit.
We describe risks and uncertainties that could cause actual results and events to differ materially in Managements Discussion and Analysis of Financial Condition and Results of Operations, Quantitative and Qualitative Disclosures about Market Risk Part I, Item 3 of this Form 10-Q, and Risk Factors .
Gross margin percentage decreased, due to unfavorable sales mix.
Gross margin increased $547 million or 10%, driven by growth in Windows and Gaming.
Gross margin increased $1.1 billion...Read more
Gross margin percentage increased, due...Read more
Cash from operations increased $1.2...Read more
Our most significant expenses are...Read more
Office Commercial revenue increased 17%,...Read more
Intelligent Cloud revenue increased, driven...Read more
Office Commercial revenue increased $913...Read more
Server products and cloud services...Read more
Windows revenue increased $258 million...Read more
Server products and cloud services...Read more
We issued debt to take...Read more
More Personal Computing revenue increased,...Read more
Windows OEM non-Pro revenue declined...Read more
If our customers choose to...Read more
Windows Commercial revenue increased 12%,...Read more
Revenue increased $4.5 billion or...Read more
Dynamics revenue increased 20%, driven...Read more
Windows original equipment manufacturer licensing...Read more
Office Consumer revenue increased $140...Read more
Dynamics revenue increased 20%, driven...Read more
Commercial cloud revenue, which includes...Read more
Cash used in financing increased...Read more
Enterprise Services revenue increased 6%....Read more
Windows OEM Pro revenue grew...Read more
Productivity and Business Processes revenue...Read more
We use derivative instruments to:...Read more
Operating expenses decreased $31 million...Read more
Sales and marketing expenses include...Read more
The proceeds of these issuances...Read more
General and administrative expenses decreased...Read more
Operating income increased $875 million...Read more
Changes in these factors could...Read more
Operating income increased $2.2 billion...Read more
General and administrative expenses include...Read more
Gaming revenue increased 44%, with...Read more
Azure revenue growth was 76%,...Read more
Windows Commercial revenue increased 12%,...Read more
Office Consumer revenue increased 16%,...Read more
LinkedIn revenue increased 33%, with...Read more
LinkedIn revenue increased $382 million...Read more
Windows OEM revenue increased 3%....Read more
Microsoft Surface revenue increased 14%....Read more
Revenue increased $1.5 billion or...Read more
Revenue increased $1.6 billion or...Read more
Revenue increased $1.4 billion or...Read more
Surface revenue increased $143 million...Read more
The TCJA was effective in...Read more
Our revenue fluctuates quarterly and...Read more
Interest expense increased slightly primarily...Read more
The decrease in our effective...Read more
Unearned revenue comprises mainly unearned...Read more
Gains and losses from changes...Read more
Variations in the actual outcome...Read more
Our effective tax rate for...Read more
Operating income increased $578 million...Read more
Additions to property and equipment...Read more
Second quarter revenue is driven...Read more
We will continue to invest...Read more
The TCJA also reduced the...Read more
Financial Statements, Disclosures and Schedules
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Microsoft Corp provided additional information to their SEC Filing as exhibits
Ticker: MSFT
CIK: 789019
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-024893
Submitted to the SEC: Wed Oct 24 2018 4:13:07 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Prepackaged Software