Stock Analysis on Net

Microsoft Corp. (NASDAQ:MSFT)

Income Statement 
Quarterly Data

Microsoft Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018
Product 15,272 13,217 17,080 18,941 15,535 16,853 15,588 16,517 15,741 17,956 17,366 20,779 16,631 18,938 16,873 19,460 15,803 18,147 15,871 18,255 15,768 17,103 15,448 16,219 17,299
Service and other 50,313 51,510 44,778 43,079 40,982 39,336 37,269 36,230 34,381 33,909 31,994 30,949 28,686 27,214 24,833 23,616 21,351 19,886 19,150 18,651 17,287 16,614 15,123 16,252 11,785
Revenue 65,585 64,727 61,858 62,020 56,517 56,189 52,857 52,747 50,122 51,865 49,360 51,728 45,317 46,152 41,706 43,076 37,154 38,033 35,021 36,906 33,055 33,717 30,571 32,471 29,084
Product (3,294) (1,438) (4,339) (5,964) (3,531) (3,871) (3,941) (5,690) (4,302) (4,357) (4,584) (6,331) (3,792) (4,287) (4,277) (6,058) (3,597) (4,370) (3,376) (4,966) (3,305) (3,298) (3,441) (5,885) (3,649)
Service and other (16,805) (18,246) (14,166) (13,659) (12,771) (12,924) (12,187) (11,798) (11,150) (12,072) (11,031) (10,629) (9,854) (9,704) (8,768) (8,136) (7,405) (7,969) (7,599) (7,392) (7,101) (7,114) (6,729) (6,538) (6,256)
Cost of revenue (20,099) (19,684) (18,505) (19,623) (16,302) (16,795) (16,128) (17,488) (15,452) (16,429) (15,615) (16,960) (13,646) (13,991) (13,045) (14,194) (11,002) (12,339) (10,975) (12,358) (10,406) (10,412) (10,170) (12,423) (9,905)
Gross margin 45,486 45,043 43,353 42,397 40,215 39,394 36,729 35,259 34,670 35,436 33,745 34,768 31,671 32,161 28,661 28,882 26,152 25,694 24,046 24,548 22,649 23,305 20,401 20,048 19,179
Research and development (7,544) (8,056) (7,653) (7,142) (6,659) (6,739) (6,984) (6,844) (6,628) (6,849) (6,306) (5,758) (5,599) (5,687) (5,204) (4,899) (4,926) (5,214) (4,887) (4,603) (4,565) (4,513) (4,316) (4,070) (3,977)
Sales and marketing (5,717) (6,816) (6,207) (6,246) (5,187) (6,204) (5,750) (5,679) (5,126) (6,304) (5,595) (5,379) (4,547) (5,857) (5,082) (4,947) (4,231) (5,417) (4,911) (4,933) (4,337) (4,962) (4,565) (4,588) (4,098)
General and administrative (1,673) (2,246) (1,912) (1,977) (1,474) (2,197) (1,643) (2,337) (1,398) (1,749) (1,480) (1,384) (1,287) (1,522) (1,327) (1,139) (1,119) (1,656) (1,273) (1,121) (1,061) (1,425) (1,179) (1,132) (1,149)
Operating income 30,552 27,925 27,581 27,032 26,895 24,254 22,352 20,399 21,518 20,534 20,364 22,247 20,238 19,095 17,048 17,897 15,876 13,407 12,975 13,891 12,686 12,405 10,341 10,258 9,955
Other income (expense), net (283) (675) (854) (506) 389 473 321 (60) 54 (47) (174) 268 286 310 188 440 248 15 (132) 194 191 145 127 266
Income before income taxes 30,269 27,250 26,727 26,526 27,284 24,727 22,673 20,339 21,572 20,487 20,190 22,515 20,524 19,405 17,236 18,337 16,124 13,422 12,843 14,085 12,686 12,596 10,486 10,385 10,221
Provision for income taxes (5,602) (5,214) (4,788) (4,656) (4,993) (4,646) (4,374) (3,914) (4,016) (3,747) (3,462) (3,750) (19) (2,947) (1,779) (2,874) (2,231) (2,220) (2,091) (2,436) (2,008) 591 (1,677) (1,965) (1,397)
Net income 24,667 22,036 21,939 21,870 22,291 20,081 18,299 16,425 17,556 16,740 16,728 18,765 20,505 16,458 15,457 15,463 13,893 11,202 10,752 11,649 10,678 13,187 8,809 8,420 8,824

Based on: 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Microsoft Corp. revenue increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Operating income The net result for the period of deducting operating expenses from operating revenues. Microsoft Corp. operating income increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Microsoft Corp. income before income taxes increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Microsoft Corp. net income increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.