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Microsoft Corp (MSFT) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, June 30, 2022

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CIK: 789019 Ticker: MSFT

Exhibit 99.1

Microsoft Cloud Strength Drives Fourth Quarter Results

REDMOND, Wash. — July 26, 2022 — Microsoft Corp. today announced the following results for the quarter ended June 30, 2022, as compared to the corresponding period of last fiscal year:

 

  •  

Revenue was $51.9 billion and increased 12% (up 16% in constant currency)

  •  

Operating income was $20.5 billion and increased 8% (up 14% in constant currency)

  •  

Net income was $16.7 billion and increased 2% (up 7% in constant currency)

  •  

Diluted earnings per share was $2.23 and increased 3% (up 8% in constant currency)

“We see real opportunity to help every customer in every industry use digital technology to overcome today’s challenges and emerge stronger,” said Satya Nadella, chairman and chief executive officer of Microsoft. “No company is better positioned than Microsoft to help organizations deliver on their digital imperative - so they can do more with less.”

“In a dynamic environment we saw strong demand, took share, and increased customer commitment to our cloud platform. Commercial bookings grew 25% and Microsoft Cloud revenue was $25 billion, up 28% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “As we begin a new fiscal year, we remain committed to balancing operational discipline with continued investments in key strategic areas to drive future growth.”

Impact of Recent Events

In the fourth quarter of fiscal year 2022, evolving macroeconomic conditions and other unforeseen items had an impact on financial results beyond what was included in our forward-looking guidance provided on April 26, 2022.

 

  •  

Unfavorable foreign exchange rate movement within the quarter negatively impacted revenue and diluted earnings per share $(595) million and $(0.04), respectively. Additional details are provided in the Earnings Call Slides.

  •  

Extended production shutdowns in China that continued through May and a deteriorating PC market in June contributed to a negative impact on Windows OEM revenue of over $(300) million

  •  

Reductions in advertising spend contributed to a negative impact on LinkedIn as well as Search and news advertising revenue of over $(100) million

  •  

With the ongoing war in Ukraine, we made the decision to significantly scale down our operations in Russia. As a result, we recorded operating expenses of $126 million related to bad debt expense, asset impairments, and severance.

  •  

As part of a strategic realignment of our business groups, we recorded employee severance expenses of $113 million, excluding Russia

The following information was filed by Microsoft Corp (MSFT) on Tuesday, July 26, 2022 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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Inside Microsoft Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
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Earnings Per Share
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Estimated Future Amortization Expense Related To Intangible Assets (Detail)
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Ticker: MSFT
CIK: 789019
Form Type: 10-K Annual Report
Accession Number: 0001564590-22-026876
Submitted to the SEC: Thu Jul 28 2022 4:06:19 PM EST
Accepted by the SEC: Thu Jul 28 2022
Period: Thursday, June 30, 2022
Industry: Prepackaged Software

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