beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

INCOME STATEMENTS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Revenue
Product	$ 13,493	$ 15,219
Service and other	6,960	5,160
Total revenue	20,453	20,379
Cost of revenue
Product	3,581	4,035
Service and other	4,263	3,172
Total cost of revenue	7,844	7,207
Gross margin	12,609	13,172
Research and development	3,106	2,962
Sales and marketing	3,233	3,333
General and administrative	1,045	1,084
Operating income	5,225	5,793
Other income (expense), net	100	(280)
Income before income taxes	5,325	5,513
Provision for income taxes	635	611
Net income	$ 4,690	$ 4,902
Earnings per share:
Basic	$ 0.60	$ 0.61
Diluted	$ 0.60	$ 0.61
Weighted average shares outstanding:
Basic	7,789	7,996
Diluted	7,876	8,084
Cash dividends declared per common share	$ 0.39	$ 0.36

CASH FLOWS STATEMENTS - USD ($) $ in Millions	3 Months Ended
CASH FLOWS STATEMENTS - USD ($) $ in Millions	Sep. 30, 2016	Sep. 30, 2015
Operations
Net income	$ 4,690	$ 4,902
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other	1,816	1,461
Stock-based compensation expense	703	674
Net recognized losses (gains) on investments and derivatives	(311)	101
Deferred income taxes	15	73
Deferral of unearned revenue	12,583	10,423
Recognition of unearned revenue	(12,904)	(11,355)
Changes in operating assets and liabilities:
Accounts receivable	7,174	6,376
Inventories	(867)	(937)
Other current assets	(966)	(562)
Other long-term assets	(29)	(5)
Accounts payable	(443)	(135)
Other current liabilities	(361)	(2,024)
Other long-term liabilities	449	(116)
Net cash from operations	11,549	8,876
Financing
Proceeds from issuance (repayments) of short-term debt, maturities of 90 days or less, net	(3,390)	4,890
Proceeds from issuance of debt	24,977	121
Repayments of debt	(225)	(1,750)
Common stock issued	241	219
Common stock repurchased	(4,362)	(4,757)
Common stock cash dividends paid	(2,800)	(2,475)
Other	(112)	(178)
Net cash from (used in) financing	14,329	(3,930)
Investing
Additions to property and equipment	(2,163)	(1,356)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(24)	(390)
Purchases of investments	(57,181)	(37,570)
Maturities of investments	8,659	5,686
Sales of investments	32,323	28,502
Securities lending payable	(84)	62
Net cash used in investing	(18,470)	(5,066)
Effect of foreign exchange rates on cash and cash equivalents	10	(44)
Net change in cash and cash equivalents	7,418	(164)
Cash and cash equivalents, beginning of period	6,510	5,595
Cash and cash equivalents, end of period	$ 13,928	$ 5,431

BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2016	Jun. 30, 2016
Current assets:
Cash and cash equivalents	$ 13,928	$ 6,510
Short-term investments (including securities loaned of $147 and $204)	123,004	106,730
Total cash, cash equivalents, and short-term investments	136,932	113,240
Accounts receivable, net of allowance for doubtful accounts of $284 and $426	11,129	18,277
Inventories	3,122	2,251
Other	6,726	5,892
Total current assets	157,909	139,660
Property and equipment, net of accumulated depreciation of $20,885 and $19,800	19,224	18,356
Equity and other investments	10,486	10,431
Goodwill	17,907	17,872
Intangible assets, net	3,522	3,733
Other long-term assets	3,476	3,416
Total assets	212,524	193,468
Current liabilities:
Accounts payable	6,296	6,898
Short-term debt	14,536	12,904
Accrued compensation	3,621	5,264
Income taxes	720	580
Short-term unearned revenue	26,304	27,468
Securities lending payable	210	294
Other	7,123	5,949
Total current liabilities	58,810	59,357
Long-term debt	60,154	40,557
Long-term unearned revenue	7,284	6,441
Deferred income taxes	1,564	1,476
Other long-term liabilities	14,340	13,640
Total liabilities	142,152	121,471
Commitments and contingencies
Stockholders' equity:
Common stock and paid-in capital-shares authorized 24,000; outstanding 7,784 and 7,808	67,747	68,178
Retained earnings	944	2,282
Accumulated other comprehensive income	1,681	1,537
Total stockholders' equity	70,372	71,997
Total liabilities and stockholders' equity	$ 212,524	$ 193,468