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Microsoft anuncia ganancias del Q1 del año fiscal 2011-2012

La gigante de informática ha anunciado sus resultados para el primer trimestre del año fiscal 2012.

Microsoft unos ingresos de 17.37 billones dólares, un aumento de 7% durante el período del año anterior y una cifra que se cumplió las expectativas de los analistas. Pero todo indica que en efecto, a pesar de no terminar en negativo, se esperaba que Microsoft lograra algo más trascendental.

Microsoft también informó que ha vendido 450 millones de unidades de Windows 7 desde su lanzamiento. Esa ligera ganancia se compensó con un salto de 8% en los ingresos de la División de Negocios de Microsoft.

Adicional ganancias de parte de Windows Live se situaron en 2% y el motor de búsqueda Bing por su parte, tiene ahora un 14.7% de presencia en el mercado, un 3.5% respecto al año anterior.

Comunicado de prensa:

Microsoft Reports Record First-Quarter Results

$17.37 billion of revenue driven by solid business and consumer demand.

 

REDMOND, Wash. — Oct. 20, 2011 — Microsoft Corp. today announced record first-quarter revenue of $17.37 billion for the quarter ended Sept. 30, 2011, a 7% increase from the same period of the prior year. Operating income, net income, and diluted earnings per share for the quarter were $7.20 billion, $5.74 billion, and $0.68 per share, which represented increases of 1%, 6%, and 10%, respectively, when compared with the prior year period.

“We saw customer demand across the breadth of our products, resulting in record first-quarter revenue and another quarter of solid EPS growth,” said Peter Klein, chief financial officer at Microsoft. “Our product portfolio is performing well, and we’ve got an impressive pipeline of products and services that positions us well for future growth.”

Since July, Microsoft reported a number of product and business highlights, including:

  • The Microsoft Business Division reported $5.62 billion in first quarter revenue, an 8% increase from the prior year period which included the launch of Office 2010. Revenue from Microsoft’s productivity server offerings – including Lync, SharePoint, and Exchange – grew double-digits, and the Dynamics business grew 17% in the quarter.
  • The Server & Tools segment posted $4.25 billion in first quarter revenue, a 10% increase over the prior year period and the sixth consecutive quarter of double-digit revenue growth. Microsoft also unveiled a developer preview of “Windows Server 8” at the BUILD developer conference in September.
  • Windows and Windows Live Division revenue was $4.87 billion, a 2% increase over the prior period, in line with the PC market. Windows 7 momentum continued with over 450 million licenses sold since launch. At the BUILD conference, Microsoft showcased and released a developer preview of the next major release of Windows, “Windows 8.”
  • Windows Phone 7.5 released with a broad array of new features, and received favorable reviews.
  • Bing organic US market share grew 350 basis points year over year to 14.7% while Bing-powered US market share, including Yahoo! properties, was approximately 27%. The company also showcased the increasing integration of Bing across other products such as Xbox and Windows Phone.
  • Xbox was the top-selling gaming console in the US for the ninth consecutive month. The company launched the Gears of War 3 game with over three million copies sold in the first week, and announced plans to roll out the next generation of TV entertainment on Xbox LIVE with nearly 40 content providers starting this holiday season.
  • Microsoft completed its acquisition of Skype.

“We had another strong quarter for Office, SharePoint, Exchange, and Lync, and saw growing demand for our public and private cloud services including Office 365, Dynamics CRM Online, and Windows Azure,” said Kevin Turner, chief operating officer at Microsoft. “With a great set of consumer products like Windows 7 PCs, Windows Phone 7.5, Xbox and Kinect, we are excited about the holiday buying season.”

Business Outlook

Beginning in the second fiscal quarter, Microsoft’s results will include the results of Skype. The company offers updated fiscal 2012 operating expense guidance, including Skype and the associated acquisition-related expenses, of $28.6 billion to $29.2 billion.

Webcast Details

Peter Klein, chief financial officer, Frank Brod, chief accounting officer, and Bill Koefoed, general manager of Investor Relations, will host a conference call and webcast at 2:30 p.m. PDT (5:30 p.m. EDT) today to discuss details of the company’s performance for the quarter and certain forward-looking information. The session may be accessed at http://www.microsoft.com/investor. The webcast will be available for replay through the close of business on Oct. 20, 2012.

About Microsoft

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

Forward-Looking Statements

Statements in this release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as:

  • execution and competitive risks in transitioning to cloud-based computing;
  • challenges to Microsoft’s business model;
  • intense competition in all of Microsoft’s markets;
  • Microsoft’s continued ability to protect its intellectual property rights;
  • claims that Microsoft has infringed the intellectual property rights of others;
  • the possibility of unauthorized disclosure of significant portions of Microsoft’s source code;
  • actual or perceived security vulnerabilities in Microsoft products that could reduce revenue or lead to liability;
  • improper disclosure of personal data that could result in liability and harm to Microsoft’s reputation;
  • outages and disruptions of services provided to customers directly or through third parties if Microsoft fails to maintain an adequate operations infrastructure;
  • government litigation and regulation affecting how Microsoft designs and markets its products;
  • Microsoft’s ability to attract and retain talented employees;
  • delays in product development and related product release schedules;
  • significant business investments that may not gain customer acceptance and produce offsetting increases in revenue;
  • unfavorable changes in general economic conditions, disruption of our partner networks or sales channels, or the availability of credit that affect demand for Microsoft’s products and services or the value of our investment portfolio;
  • adverse results in legal disputes;
  • unanticipated tax liabilities;
  • quality or supply problems in Microsoft’s consumer hardware or other vertically integrated hardware and software products;
  • impairment of goodwill or amortizable intangible assets causing a charge to earnings;
  • exposure to increased economic and regulatory uncertainties from operating a global business;
  • geopolitical conditions, natural disaster, cyberattack or other catastrophic events disrupting Microsoft’s business; and
  • acquisitions, joint ventures and strategic alliances that adversely affect the business.

For further information regarding risks and uncertainties associated with Microsoft’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Microsoft’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Microsoft’s Investor Relations department at (800) 285-7772 or at Microsoft’s Investor Relations website at http://www.microsoft.com/investor.

All information in this release is as of October 20, 2011. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

For more information, press only:

Rapid Response Team, Waggener Edstrom Worldwide, (503) 443-7070, rrt@waggeneredstrom.com

 

For more information, financial analysts and investors only:

Bill Koefoed, general manager, Investor Relations, (425) 706-3703

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://www.microsoft.com/news. Web links, telephone numbers and titles were correct at time of publication, but may since have changed. Shareholder and financial information, as well as today’s 2:30 p.m. PDT conference call with investors and analysts, is available at http://www.microsoft.com/investor.

INCOME STATEMENTS

(In millions, except per share amounts) (Unaudited)

Three Months Ended September 30,

 

2011

2010

Revenue

 $  17,372

 $16,195

Operating expenses:
  Cost of revenue

       3,777

     3,139

  Research and development

       2,329

     2,196

  Sales and marketing

       2,900

     2,806

  General and administrative

       1,163

       938

    Total operating expenses

     10,169

     9,079

Operating income

       7,203

     7,116

Other income

          103

       114

Income before income taxes

       7,306

     7,230

Provision for income taxes

       1,568

     1,820

Net income

 $    5,738

 $  5,410

Earnings per share:
  Basic

 $      0.68

 $    0.63

  Diluted

 $      0.68

 $    0.62

Weighted average shares outstanding:
  Basic

       8,392

     8,614

  Diluted

       8,490

     8,695

Cash dividends declared per common share

 $      0.20

 

 $    0.16

BALANCE SHEETS

(In millions) (Unaudited)

 

September 30,
2011

 

June 30,
2011
(1)

Assets
Current assets:
  Cash and cash equivalents

 $         12,881

 $     9,610

  Short-term investments (including securities loaned
of $1,119 and $1,181)

            44,522

      43,162

    Total cash, cash equivalents, and short-term
investments

            57,403

      52,772

  Accounts receivable, net of allowance for doubtful
accounts of $297 and $333

            10,153

      14,987

  Inventories

              2,270

        1,372

  Deferred income taxes

              2,190

        2,467

  Other

              3,255

        3,320

    Total current assets

            75,271

      74,918

Property and equipment, net of accumulated depreciation
of $10,209 and $9,829

              8,033

        8,162

Equity and other investments

              8,576

      10,865

Goodwill

            12,537

      12,581

Intangible assets, net

              1,026

           744

Other long-term assets

              1,972

        1,434

        Total assets

 $       107,415

 $  108,704

Liabilities and stockholders’ equity
Current liabilities:
  Accounts payable

 $           3,719

 $     4,197

  Accrued compensation

              2,388

        3,575

  Income taxes

                 705

           580

  Short-term unearned revenue

            14,345

      15,722

  Securities lending payable

              1,141

        1,208

  Other

              3,245

        3,492

    Total current liabilities

            25,543

      28,774

Long-term debt

            11,927

      11,921

Long-term unearned revenue

              1,313

        1,398

Deferred income taxes

              1,040

        1,456

Other long-term liabilities

              8,201

        8,072

    Total liabilities

            48,024

      51,621

Commitments and contingencies
Stockholders’ equity:
  Common stock and paid-in capital – shares authorized
24,000; outstanding 8,410 and 8,376

            63,492

      63,415

  Retained deficit, including accumulated other
comprehensive income of $751 and $1,863

            (4,101)

       (6,332)

    Total stockholders’ equity

            59,391

      57,083

        Total liabilities and stockholders’ equity

 $       107,415

 $  108,704

(1) Derived from audited financial statements.

 

CASH FLOWS STATEMENTS

(In millions) (Unaudited)

Three Months Ended September 30,

 

2011

 

2010

Operations
Net income

 $    5,738

 $  5,410

Adjustments to reconcile net income
to net cash from operations:
  Depreciation, amortization, and
other

          726

       694

  Stock-based compensation
expense

          558

       528

  Net recognized gains on
investments and derivatives

          (30)

        (29)

  Excess tax benefits from
stock-based compensation

          (70)

         (5)

  Deferred income taxes

          402

      (148)

  Deferral of unearned revenue

       6,139

     5,881

  Recognition of unearned revenue

     (7,653)

   (6,862)

  Changes in operating assets and
liabilities:
    Accounts receivable

       4,733

     3,674

    Inventories

        (920)

      (468)

    Other current assets

          260

       208

    Other long-term assets

          (75)

         62

    Accounts payable

        (442)

      (400)

    Other current liabilities

        (993)

      (911)

    Other long-term liabilities

          120

       560

        Net cash from operations

       8,493

     8,194

Financing
Short-term debt borrowings (repayments),
maturities of 90 days or less, net

 0

       814

Proceeds from issuance of debt,
maturities longer than 90 days

 0

     4,721

Repayments of debt, maturities
longer than 90 days

 0

      (814)

Common stock issued

          336

       177

Common stock repurchased

     (1,934)

   (4,399)

Common stock cash dividends paid

     (1,341)

   (1,118)

Excess tax benefits from
stock-based compensation

            70

           5

Other

 0

        (25)

        Net cash used in financing

     (2,869)

      (639)

Investing
Additions to property and equipment

        (436)

      (564)

Acquisition of companies, net of cash acquired,
and purchases of intangible and other assets

        (875)

 0

Purchases of investments

   (11,299)

   (7,417)

Maturities of investments

       2,825

       870

Sales of investments

       7,536

     1,427

Securities lending payable

          (66)

       727

        Net cash used in investing

     (2,315)

   (4,957)

Effect of exchange rates on cash
and cash equivalents

          (38)

         58

Net change in cash and cash
equivalents

       3,271

     2,656

Cash and cash equivalents,
beginning of period

       9,610

     5,505

Cash and cash equivalents, end of
period

 $  12,881

 $  8,161

SEGMENT REVENUE AND OPERATING INCOME (LOSS)

(In millions) (Unaudited)

Three Months Ended September 30,

 

2011

 

2010

Revenue
Windows & Windows Live Division

 $    4,868

 $  4,785

Server and Tools

       4,250

     3,864

Online Services Division

          625

       527

Microsoft Business Division

       5,622

     5,221

Entertainment and Devices Division

       1,963

     1,795

Unallocated and other

            44

           3

  Consolidated

 $  17,372

 $16,195

Operating income (loss)
Windows & Windows Live Division

 $    3,251

 $  3,286

Server and Tools

       1,597

     1,540

Online Services Division

        (494)

      (558)

Microsoft Business Division

       3,661

     3,465

Entertainment and Devices Division

          352

       386

Corporate-level activity

     (1,164)

   (1,003)

  Consolidated

 $    7,203

 $  7,116

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