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Wednesday, 27 July 2022 22:15

Microsoft releases FY22 Q4 results Featured

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Microsoft releases FY22 Q4 results Image by mohamed Hassan from Pixabay

In its latest earnings report, all Microsoft business divisions were up, but the analysts expected more.

In their earnings announcement, Microsoft broke down their results as follows:

  • Revenue: $51.9 billion
  • Earnings per share: $2.23
  • Productivity and Business Processes: $14.4 billion
  • Intelligent Cloud: $20.9 billion
  • Personal Computing: $14.4 billion

All of these were an improvement over the equivalent quarter in the prior year.

In providing these results, the Microsoft announcement noted a few ‘headwinds’ that influenced the results but were generally outside of the company’s control.

  • Unfavourable 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

In addition, the company also announced the full year results for the 2021-22 fiscal year ended June 30th.

  • Revenue was $198.3 billion and increased 18%
  • Operating income was $83.4 billion and increased 19%
  • Net income was $72.7 billion GAAP and increased 19%, and $69.4 billion non-GAAP and increased 15%
  • Diluted earnings per share was $9.65 GAAP and increased 20%, and $9.21 non-GAAP and increased 16%

Unfortunately, these results were not as good as expected by various analysts and MSFT shares were down between 2% and 3% in after-hours trading. One wonders why investors pay more attention to the prognostications of analysts than the actual data provided by a company. But, here we are.

Full details are provided on the linked announcement.

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David Heath

David Heath has had a long and varied career in the IT industry having worked as a Pre-sales Network Engineer (remember Novell NetWare?), General Manager of IT&T for the TV Shopping Network, as a Technical manager in the Biometrics industry, and as a Technical Trainer and Instructional Designer in the industrial control sector. In all aspects, security has been a driving focus. Throughout his career, David has sought to inform and educate people and has done that through his writings and in more formal educational environments.

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