microsoft revenue by segment

Analysts had expected a 41.4% growth in Azure, according to consensus data from . The devices and form factors customers prefer evolve rapidly, and influence how users access services in the cloud, and in some cases, the users choice of which suite of cloud-based services to use. We have completed our assessment and concluded that adoption of the new standard will not have a material impact on our consolidated financial statements. Gross unrecognized tax benefits related to uncertain tax positions as of June 30, 2021, 2020, and 2019, were $14.6 billion, $13.8 billion, and $13.1 billion, respectively, which were primarily included in long-term income taxes in our consolidated balance sheets. Chairman and Chief Executive Officer A companys internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. We also sell commercial and consumer products and services directly to customers, such as cloud services, search, and gaming, through our digital marketplaces and online stores. Generally, we also create product documentation internally. Certain forecasted transactions, assets, and liabilities are exposed to foreign currency risk. Our exclusive game content is created through Xbox Game Studios, a collection of first-party studios creating iconic and differentiated gaming experiences. Price as of February 28, 2023, 12:39 p.m. We license software to organizations under volume licensing agreements to allow the customer to acquire multiple licenses of products and services instead of having to acquire separate licenses through retail channels. Executive Vice President, Marketing and Consumer And if we continue to pursue our mission, I am certain that we will collectively achieve so much more together. For access to additional financial information, visit the Investor Relations website online at: www.microsoft.com/investor. When a cloud-based service includes both on-premises software licenses and cloud services, judgment is required to determine whether the software license is considered distinct and accounted for separately, or not distinct and accounted for together with the cloud service and recognized over time. Our server products face competition from a wide variety of server operating systems and applications offered by companies with a range of market approaches. Research and development expenses include payroll, employee benefits, stock-based compensation expense, and other headcount-related expenses associated with product development. Securities held in our equity investments portfolio are subject to market price risk. The number of shares the PSU holder receives is based on the extent to which the corresponding performance goals have been achieved. The COVID-19 pandemic may continue to impact our business operations and financial operating results, and there is uncertainty in the nature and degree of its continued effects over time. There are two broad categories of OEMs. A companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Current year net income and diluted EPS were positively impacted by the tax benefit related to the India Supreme Court decision on withholding taxes, which resulted in an increase to net income and diluted EPS of $620 million and $0.08, respectively. In 2014, the trial court granted in part and denied in part the defendants motion to exclude the plaintiffs general causation experts. MD&A is provided as a supplement to, and should be read in conjunction with, our consolidated financial statements and the accompanying Notes to Financial Statements. We exclusively licensed GPT-3, allowing us to leverage its technical innovations to deliver advanced AI solutions for our customers, as well as create new solutions that harness the power of advanced natural language generation. As described in our 2020 Proxy Statement, annual performance and compensation reviews of our senior leadership team include an evaluation of their contributions to employee culture and diversity. Both numbers easily beat analyst estimates. And every day this past year, I have had the privilege to see it in action, as customers of every size, in every industry, in every part of the world use our platforms and tools to help address their own challenges and opportunities as well as those of their communities and society at-large. We intend to request shareholder approval for a successor ESPP with a January 1, 2022 effective date and ten-year expiration of December 31, 2031 at our 2021 Annual Shareholders Meeting. Our cloud business benefits from three economies of scale: datacenters that deploy computational resources at significantly lower cost per unit than smaller ones; datacenters that coordinate and aggregate diverse customer, geographic, and application demand patterns, improving the utilization of computing, storage, and network resources; and multi-tenancy locations that lower application maintenance labor costs. We know that as we become more representative of the communities where we live and work, and the people around the world who we aspire to serve, we become better at helping everyone on the planet achieve more. You can only download this statistic as a Premium user. Show publisher information Productivity and business processes. For multi-year agreements, we generally invoice customers annually at the beginning of each annual coverage period. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities. In these cases, the hardware and software license are accounted for as a single performance obligation and revenue is recognized at the point in time when ownership is transferred to resellers or directly to end customers through retail stores and online marketplaces. Diversity and inclusion continues to be a core priority for every employee at Microsoft and is incorporated into our performance and career development approach. The company's shares . Their net earnings came in at $2,407 Million, a decrease of 5.6% YoY. Interest rate risks related to certain fixed-rate debt are hedged using interest rate swaps that are designated as fair value hedging instruments to effectively convert the fixed interest rates to floating interest rates. The valuation allowance disclosed in the table above relates to the foreign net operating loss carryforwards and other net deferred tax assets that may not be realized. For more about Microsofts CSR commitments and performance, please visit: www.microsoft.com/transparency. During fiscal year 2020, we recorded an impairment charge of $161 million to operating lease right-of-use assets due to the closing of our Microsoft Store physical locations. I have had the honor to see how the hard work and commitment of Microsofts employees, the ingenuity of our partners, the trust of our customers, and the support of our shareholders translate into strong results. Surface revenue increased $302 million or 5%. Advertising expense was $1.5 billion, $1.6 billion, and $1.6 billion in fiscal years 2021, 2020, and 2019, respectively. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Today's Change. Shares of our common stock may be purchased by employees at three-month intervals at 90% of the fair market value on the last trading day of each three-month period. We also are subject to a variety of other claims and suits that arise from time to time in the ordinary course of our business. Thats why in April we announced a new five-year commitment to spur the development of accessible technology, expand opportunities for people with disabilities in the workforce, and build a more inclusive workplace. Extended disruptions at these suppliers could lead to a similar disruption in our ability to manufacture devices on time to meet consumer demand. The acquisition is expected to empower developers to achieve more at every stage of the development lifecycle, accelerate enterprise use of GitHub, and bring Microsofts developer tools and services to new audiences. While were proud of our progress, we know we have much more work to do to help our communities, increase representation, and strengthen our culture of inclusion to influence broader, systemic change. Principal currencies hedged included the Euro, Japanese yen, British pound, Canadian dollar, and Australian dollar. Microsoft Teams is enabling rapid digital transformation by giving people a single tool to chat, call, meet, and collaborate. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated financial statements and the related notes (collectively referred to as the financial statements) as of and for the year ended June 30, 2021, of the Company and our report dated July 29, 2021, expressed an unqualified opinion on those financial statements. Cost of revenue is allocated in certain cases based on a relative revenue methodology. Tech as a percentage of total GDP will double from 5 to 10 percent by 2030. We believe our clouds global scale, coupled with our broad portfolio of identity and security solutions, allows us to effectively solve complex cybersecurity challenges for our customers and differentiates us from the competition. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Corporate Vice President and Chief Accounting Officer. All deferred income taxes are classified as long-term in our consolidated balance sheets. The fair value of stock awards was estimated on the date of grant using the following assumptions: During fiscal year 2021, the following activity occurred under our stock plans: As of June 30, 2021, there was approximately $12.0 billion of total unrecognized compensation costs related to stock awards. 6,600. Microsoft. The fair values of these investments are determined based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. Market Cap. In this new hybrid work environment, having a digital employee experience platform will be key to business success. Refer to Managements Discussion and Analysis of Financial Condition and Results of Operations for further discussion regarding the impact of COVID-19 on our fiscal year 2021 financial results. And as I write this, we are tracking more than 140 groups that pose an active threat to global cybersecurity. We will continue to invest in sales, marketing, product support infrastructure, and existing and advanced areas of technology, as well as continue making acquisitions that align with our business strategy. And we continue to improve the representation of our ecosystem by engaging with diverse suppliers, financial institutions, and channel partners. The estimates used to calculate the fair value of a reporting unit change from year to year based on operating results, market conditions, and other factors. The . Principal currency exposures include the Euro, Japanese yen, British pound, Canadian dollar, and Australian dollar. In making this judgment, we employ a systematic methodology that considers available quantitative and qualitative evidence in evaluating potential impairment of our investments. How we develop and use AI is also a critical component of trust. We record an allowance to cover expected losses based on troubled accounts, historical experience, and other currently available evidence. The amortization of these costs is included in cost of revenue over the estimated life of the products. It is possible that the information we post on social media could be deemed to be material to investors. Making a difference in the lives of each other, our customers, and the world around us. Every organization is looking to digitize their end-to-end operationsfrom sales and customer service to supply chain managementso they can rapidly adapt to changing market dynamics. This determination requires significant judgment. If we have plans to sell the security or it is more likely than not that we will be required to sell the security before recovery, then a decline in fair value below cost is recorded as an impairment charge in other income (expense), net and a new cost basis in the investment is established. For these components, we have limited near-term flexibility to use other manufacturers if a current vendor becomes unavailable or is unable to meet our requirements. Microsoft posted the first quarter of its 2022 financial results today, reporting revenue of $45.3 billion and a net income of $20.5 billion (GAAP). We are continuing our efforts to extend broadband access to millions of people in rural and underserved communities in the United States and around the globe. Based on the carrying amount of server and network equipment included in property and equipment, net as of June 30, 2020, the effect of this change in estimate for fiscal year 2021 was an increase in operating income of $2.7 billion and net income of $2.3 billion, or $0.30 per both basic and diluted share. The settlement risk related to these investments is insignificant given that the short-term investments held are primarily highly liquid investment-grade fixed-income securities. Net recognized gains on investments increased due to higher gains on equity securities. Cost includes materials, labor, and manufacturing overhead related to the purchase and production of inventories. Assets and liabilities measured at fair value on a recurring basis using unobservable inputs are an immaterial portion of our portfolio. We use a single amount to estimate SSP for items that are not sold separately, including on-premises licenses sold with SA or software updates provided at no additional charge. Our cloud and AI services and datacenters help businesses cut energy consumption, reduce physical footprints, and design sustainable products. The extent to which the COVID-19 pandemic impacts our business going forward will depend on numerous evolving factors we cannot reliably predict. The decrease in our effective tax rate was primarily due to tax benefits from a decision by the India Supreme Court on withholding taxes in the case of Engineering Analysis Centre of Excellence Private Limited vs The Commissioner of Income Tax, an agreement between the U.S. and India tax authorities related to transfer pricing, final Tax Cuts and Jobs Act (TCJA) regulations, and an increase in tax benefits relating to stock-based compensation. Last year, we mobilized resources to respond to the Beirut explosion, hurricanes in Central America, wildfires in the United States, and more. As of June 30, 2021, our long-term unsecured debt rating was AAA, and cash investments were in excess of $1.0 billion. Bethesda is one of the largest, privately held game developers and publishers in the world, and brings a broad portfolio of games, technology, and talent to Xbox. In fiscal years 2021, 2020, and 2019, there were no individually significant other reconciling items. An estimated loss from a loss contingency such as a legal proceeding or claim is accrued by a charge to income if it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. We are accelerating adoption of AI innovations from research to products. Pricing changes and promotions, pricing variation that occurs when the mix of devices manufactured shifts from local and regional system builders to large multinational OEMs, and different pricing of Windows versions licensed. While the Company has settled a portion of the IRS audits, resolution of the remaining matters could have a material impact on the Companys financial statements. To ensure accountability over time, we publicly disclose our progress on a multitude of workforce metrics including: We develop dynamic, sustainable, and strategic programs with the goal of providing a highly differentiated portfolio to attract, reward, and retain top talent and enable our employees to do their best work. Compensation cost for RSUs is recognized using the straight-line method and for PSUs is recognized using the accelerated method. And it underlies our approach to diversity and inclusion. The following table outlines maturities of our long-term debt, including the current portion, as of June 30, 2021: On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was enacted into law, which significantly changed existing U.S. tax law and included numerous provisions that affect our business. Changes in these factors could materially impact our consolidated financial statements. We are living in the new era of the intelligent cloud and intelligent edge, which is being sharpened by rapid advances in distributed computing, ambient intelligence, and multidevice experiences. Revenue is up 22 percent, and net income has . More personal Computing. To navigate it, organizations will need to embrace flexibility across their entire operating model, including the ways people work, the places they inhabit, and how they manage business process. The Company designs and maintains accounting and internal control systems to provide reasonable assurance at reasonable cost that assets are safeguarded against loss from unauthorized use or disposition, and that the financial records are reliable for preparing consolidated financial statements and maintaining accountability for assets. Customers can use Azure through our global network of datacenters for computing, networking, storage, mobile and web application services, AI, IoT, cognitive services, and machine learning. These estimates and assumptions are affected by managements application of accounting policies, as well as uncertainty in the current economic environment due to COVID-19. Build the intelligent cloud and intelligent edge platform. Changes in fair value, excluding credit losses and impairments, are recorded in other comprehensive income. Our Internet address is www.microsoft.com. There were no changes in our internal control over financial reporting during the quarter ended June 30, 2021 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. As of June 30, 2021, the primary unresolved issues for the IRS audits relate to transfer pricing, which could have a material impact in our consolidated financial statements when the matters are resolved. This amounted to an increase of 19.3% from the year-ago quarter . Slack provides teamwork and collaboration software. We have recast certain prior period amounts to conform to the current period presentation. At Microsoft, we believe that the economic growth we help drive must reach every person, community, and country. Windows 10 serves the enterprise as the most secure and productive operating system. 6 . The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. The fair value of stock awards vested was $13.4 billion, $10.1 billion, and $8.7 billion, for fiscal years 2021, 2020, and 2019, respectively. Our fixed-income investments are exposed to interest rate risk and credit risk. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Revenue in Q2 2022. President and Vice Chair, Christopher C. Capossela LinkedIn faces competition from online professional networks, recruiting companies, talent management companies, and larger companies that are focusing on talent management and human resource services; job boards; traditional recruiting firms; and companies that provide learning and development products and services. Lead Independent Director, Executive Vice President, Business Refer to Risk Factors in our fiscal year 2021 Form 10-K for a discussion of these factors and other risks. Today, LinkedIn has more than 774 million members and is a leader in B2B advertising, professional hiring, corporate learning, and sales intelligence. We believe these non-GAAP measures aid investors by providing additional insight into our operational performance and help clarify trends affecting our business. Apple and Microsoft are both great companies to own. The agreement allows customers to acquire monthly or annual subscriptions for cloud-based services. Using Windows to fuel our cloud business, grow our share of the PC market, and drive increased engagement with our services like Microsoft 365 Consumer, Teams, Edge, Bing, Xbox Game Pass, and more. Metrics related to our More Personal Computing segment assess the performance of key lines of business within this segment. As of June 30, 2021, we had federal, state, and foreign net operating loss carryforwards of $304 million, $1.3 billion, and $2.0 billion, respectively. This year, we provided $2.5 billion in donated and discounted products and services to help 295,000 nonprofits better serve their communities. And to preserve and protect journalism, were helping strengthen local news ecosystems, restore trust in news, and provide cybersecurity and legal security for journalists. The Microsoft Cloud Solution Provider program offers customers an easy way to license the cloud services they need in combination with the value-added services offered by their systems integrator, managed services provider, or cloud reseller partner. As we have diversity of target audiences and sales motions within the Windows business, we monitor metrics that are reflective of those varying motions. Assessed the terms in the customer agreement and evaluated the appropriateness of managements application of their accounting policies, along with their use of estimates, in the determination of revenue recognition conclusions. Our devices are primarily manufactured by third-party contract manufacturers. We typically have more than one SSP for individual products and services due to the stratification of those products and services by customers and circumstances. Aggregate demand for our software, services, and devices is correlated to global macroeconomic and geopolitical factors, which remain dynamic. Application of the goodwill impairment test requires judgment, including the identification of reporting units, assignment of assets and liabilities to reporting units, assignment of goodwill to reporting units, and determination of the fair value of each reporting unit. Opportunities include: Our employees embrace the growth mindset and take advantage of the formal learning opportunities as well as thousands of informal and on-the-job learning opportunities. Summary. Opportunities to sign up for email alerts to have information pushed in real time. Founder, Chief Executive Officer and And yet, as I reflect on what has been a very challenging year for so manyone that will be forever remembered as a heartbreaking chapter in our historyI find reasons to be hopeful. Get full access to all features within our Business Solutions. In general, and where applicable, we use quoted prices in active markets for identical assets or liabilities to determine the fair value of our financial instruments. As a result of the TCJA, we are required to pay a one-time transition tax on deferred foreign income not previously subject to U.S. income tax. The provision for income taxes for fiscal years 2021, 2020, and 2019 included interest expense related to uncertain tax positions of $274 million, $579 million, and $515 million, respectively, net of income tax benefits. The TCJA significantly changes existing U.S. tax law and includes numerous provisions that affect our business. The investments are predominantly U.S. dollar-denominated securities, but also include foreign currency-denominated securities to diversify risk. The information found on these websites is not part of, or incorporated by reference into, this or any other report we file with, or furnish to, the SEC. We implemented a global Paid Pandemic School and Childcare Closure Leave to support working parents, added wellbeing days for those who needed to take time off for mental health and wellness, implemented on-demand COVID-19 testing and vaccinations on our Redmond, Washington campus, and extended full medical plan coverage for coronavirus testing, treatment, and telehealth services. In fiscal years 2021, 2020, and channel partners amounts to conform to the purchase and of... Having a digital employee experience platform will be key to business success media could deemed... Prior period amounts to conform to the current period presentation and the world around us and inclusion the... And any taxes collected from customers, and design sustainable products iconic and differentiated gaming.. The amortization of these costs is included in cost of revenue over the estimated of. It is possible that the information we post on social media could be deemed to material. 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