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

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Microsoft Corp

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
Balance Sheets
Balance Sheets (Parenthetical)
Cash Flows Statements
Comprehensive Income Statements
Income Statements
Stockholders' Equity Statements
Accounting Policies
Accounting Policies (Policies)
Accounting Policies (Tables)
Accounting Policies - Additional Information (Detail)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Acquired Intangible Assets (Detail)
Allowance For Doubtful Accounts (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)
Carrying Amount Of Goodwill (Parenthetical) (Detail)
Changes In Gross Unrecognized Tax Benefits Related To Uncertain Tax Positions (Detail)
Changes In Unearned Revenue (Detail)
Components Of Inventories (Detail)
Components Of Lease Expense (Detail)
Components Of Other Income (Expense), Net (Detail)
Components Of Property And Equipment (Detail)
Contingencies - Additional Information (Detail)
Debt (Detail)
Debt (Parenthetical) (Detail)
Debt (Tables)
Debt - Additional Information (Detail)
Debt Investment Maturities (Detail)
Deferred Income Tax Assets And Liabilities (Detail)
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 Values Of Derivative Instruments (Detail)
Finite-Lived Intangible Assets (Detail)
Finite-Lived Intangible Assets (Parenthetical) (Detail)
Gains (Losses) On Derivative Instruments Recognized On Consolidated Income Statements (Detail)
Gains (Losses), Net Of Tax, On Derivative Instruments Recognized On Consolidated Comprehensive Income Statements (Detail)
Goodwill (Tables)
Goodwill - Additional Information (Detail)
Income Before Income Taxes (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Additional Information Regarding Examinations (Detail)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Additional Information (Detail)
Intangible Assets Acquired (Detail)
Inventories (Tables)
Investment Components (Detail)
Investments (Tables)
Investments - Additional Information (Detail)
Leases (Tables)
Leases - Additional Information (Detail)
Long-Lived Assets, Excluding Financial Instruments And Tax Assets, Classified By Location Of Controlling Statutory Company (Detail)
Major Classes Of Assets And Liabilities Allocated Purchase Price (Detail)
Major Classes Of Assets And Liabilities Allocated Purchase Price (Parenthetical) (Detail)
Maturities Of Lease Liabilities (Detail)
Maturities Of Long-Term Debt Including Current Portion (Detail)
Net Recognized Gains (Losses) On Debt Investments (Detail)
Net Recognized Gains (Losses) On Equity Investments (Detail)
Notional Amounts Of Outstanding Derivative Instruments Measured In U.S. Dollar Equivalents (Detail)
Operating Income (Loss) By Segment (Detail)
Other Income (Expense), Net
Other Income (Expense), Net (Tables)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Detail)
Provision For Income Taxes (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)
Shares Of Common Stock Outstanding (Detail)
Stock Plan Activity (Detail)
Stock Plan Activity (Parenthetical) (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 (Loss) By Component (Detail)
Summary Of Changes In Accumulated Other Comprehensive Income (Loss) By Component (Parenthetical) (Detail)
Supplemental Balance Sheet Information Related To Leases (Detail)
Supplemental Cash Flow Information Related To Leases (Detail)
Unearned Revenue
Unearned Revenue (Tables)
Unearned Revenue - Additional Information (Detail)
Unearned Revenue - Remaining Performance Obligation - Additional Information (Detail)
Unearned Revenue By Segment (Detail)
Unrealized Losses On Debt Investments (Detail)
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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