beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

INCOME STATEMENTS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenue	$ 50,122	$ 45,317
Cost of revenue	15,452	13,646
Gross margin	34,670	31,671
Research and development	6,628	5,599
Sales and marketing	5,126	4,547
General and administrative	1,398	1,287
Operating income	21,518	20,238
Other income, net	54	286
Income before income taxes	21,572	20,524
Provision for income taxes	4,016	19
Net income	$ 17,556	$ 20,505
Earnings per share:
Basic	$ 2.35	$ 2.73
Diluted	$ 2.35	$ 2.71
Weighted average shares outstanding:
Basic	7,457	7,513
Diluted	7,485	7,567
Product
Revenue	$ 15,741	$ 16,631
Cost of revenue	4,302	3,792
Service and Other
Revenue	34,381	28,686
Cost of revenue	$ 11,150	$ 9,854

CASH FLOWS STATEMENTS - USD ($) $ in Millions	3 Months Ended
CASH FLOWS STATEMENTS - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021
Operations
Net income	$ 17,556	$ 20,505
Adjustments to reconcile net income to net cash from operations:
Depreciation, amortization, and other	2,790	3,212
Stock-based compensation expense	2,192	1,702
Net recognized gains on investments and derivatives	(22)	(364)
Deferred income taxes	(1,191)	(5,970)
Changes in operating assets and liabilities:
Accounts receivable	11,729	10,486
Inventories	(543)	(777)
Other current assets	(332)	940
Other long-term assets	(666)	(598)
Accounts payable	(1,567)	(471)
Unearned revenue	(3,322)	(2,885)
Income taxes	410	2,653
Other current liabilities	(4,024)	(4,143)
Other long-term liabilities	188	250
Net cash from operations	23,198	24,540
Financing
Repayments of debt	(1,000)	(4,826)
Common stock issued	575	612
Common stock repurchased	(5,573)	(7,684)
Common stock cash dividends paid	(4,621)	(4,206)
Other, net	(264)	(172)
Net cash used in financing	(10,883)	(16,276)
Investing
Additions to property and equipment	(6,283)	(5,810)
Acquisition of companies, net of cash acquired, and purchases of intangible and other assets	(349)	(1,206)
Purchases of investments	(5,013)	(10,309)
Maturities of investments	6,662	8,862
Sales of investments	2,711	5,630
Other, net	(860)	(417)
Net cash used in investing	(3,132)	(3,250)
Effect of foreign exchange rates on cash and cash equivalents	(230)	(73)
Net change in cash and cash equivalents	8,953	4,941
Cash and cash equivalents, beginning of period	13,931	14,224
Cash and cash equivalents, end of period	$ 22,884	$ 19,165

BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 22,884	$ 13,931
Short-term investments	84,378	90,826
Total cash, cash equivalents, and short-term investments	107,262	104,757
Accounts receivable, net of allowance for doubtful accounts of $438 and $633	31,279	44,261
Inventories	4,268	3,742
Other current assets	18,003	16,924
Total current assets	160,812	169,684
Property and equipment, net of accumulated depreciation of $60,638 and $59,660	77,037	74,398
Operating lease right-of-use assets	13,347	13,148
Equity investments	6,839	6,891
Goodwill	67,459	67,524
Intangible assets, net	10,808	11,298
Other long-term assets	23,482	21,897
Total assets	359,784	364,840
Current liabilities:
Accounts payable	16,609	19,000
Current portion of long-term debt	3,248	2,749
Accrued compensation	7,405	10,661
Short-term income taxes	6,729	4,067
Short-term unearned revenue	41,340	45,538
Other current liabilities	12,058	13,067
Total current liabilities	87,389	95,082
Long-term debt	45,374	47,032
Long-term income taxes	23,712	26,069
Long-term unearned revenue	2,549	2,870
Deferred income taxes	223	230
Operating lease liabilities	11,660	11,489
Other long-term liabilities	15,311	15,526
Total liabilities	186,218	198,298
Commitments and contingencies
Stockholders’ equity:
Common stock and paid-in capital – shares authorized 24,000; outstanding 7,457 and 7,464	88,535	86,939
Retained earnings	92,374	84,281
Accumulated other comprehensive loss	(7,343)	(4,678)
Total stockholders’ equity	173,566	166,542
Total liabilities and stockholders’ equity	$ 359,784	$ 364,840