| Quarterly Information (Unaudited) |
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(In millions, except per share amounts) |
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Quarter Ended |
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September 30 |
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December 31 |
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March 31 |
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June 30 |
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Total |
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Fiscal Year 2017 (a) |
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Revenue (b) |
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$ |
20,453 |
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$ |
24,090 |
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$ |
22,090 |
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$ |
23,317 |
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$ |
89,950 |
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Gross margin |
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12,609 |
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14,189 |
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14,030 |
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14,861 |
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55,689 |
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Operating income |
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5,225 |
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6,177 |
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5,594 |
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5,330 |
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22,326 |
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Net income |
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4,690 |
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5,200 |
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4,801 |
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6,513 |
(c) |
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21,204 |
(c) |
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Basic earnings per share |
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0.60 |
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0.67 |
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0.62 |
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0.84 |
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2.74 |
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Diluted earnings per share |
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0.60 |
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0.66 |
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0.61 |
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0.83 |
(c) |
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2.71 |
(c) |
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Fiscal Year 2016 |
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Revenue (d) |
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$ |
20,379 |
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$ |
23,796 |
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$ |
20,531 |
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$ |
20,614 |
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$ |
85,320 |
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Gross margin |
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13,172 |
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13,924 |
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12,809 |
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12,635 |
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52,540 |
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Operating income |
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5,793 |
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6,026 |
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5,283 |
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3,080 |
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20,182 |
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Net income |
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4,902 |
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5,018 |
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3,756 |
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3,122 |
(e) |
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16,798 |
(e) |
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Basic earnings per share |
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0.61 |
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0.63 |
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0.48 |
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0.40 |
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2.12 |
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Diluted earnings per share |
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0.61 |
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0.62 |
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0.47 |
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0.39 |
(e) |
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2.10 |
(e) |
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(a) |
On December 8, 2016, we acquired LinkedIn Corporation. LinkedIn has been included in our consolidated results of operations starting on the acquisition date. |
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(b) |
Reflects the impact of the net revenue deferral from Windows 10 of $1.9 billion, $2.0 billion, $1.5 billion, and $1.4 billion, for the first, second, third, and fourth quarter of fiscal year 2017, respectively, and $6.7 billion for fiscal year 2017. |
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(c) |
Includes $306 million of employee severance expenses primarily related to our sales and marketing restructuring plan, which decreased operating income, net income, and diluted EPS by $306 million, $243 million, and $0.03, respectively. |
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(d) |
Reflects the impact of the net revenue deferral from Windows 10 of $1.3 billion, $1.7 billion, $1.6 billion, and $2.0 billion, for the first, second, third, and fourth quarter of fiscal year 2016, respectively, and $6.6 billion for fiscal year 2016. |
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(e) |
Includes $630 million of asset impairment charges related to our phone business, and $480 million of restructuring charges associated with our 2016 restructuring plans, which together decreased operating income, net income, and diluted EPS by $1.1 billion, $895 million, and $0.11, respectively. |
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