Microsoft Releases Financial Results For Fourth Fiscal Quarter 2013 (Q4'13)
Subject: General Tech | July 20, 2013 - 02:37 AM | Tim Verry
Tagged: windows 8, Surface RT, microsoft, financial results
Software giant Microsoft recently released its financial report for its fiscal Q4 2013 (FY13 Q4) ended June 30, 2013. The financial results cover both quarterly and yearly results.
Microsoft saw quarterly revenue of $19.09 billion of fiscal Q4 2013 as well as $77.85 billion of revenue for fiscal year 2013. Quarterly revenue of $19.09 billion fell approximately 7% from fiscal Q3 2013 revenue of $20.49 billion. Further, yearly revenue increased 6% versus fiscal year 2012.
Additionally, Microsoft had quarterly operating income and net income of $6.07 billion and $4.97 billion respectively.
As far as annual financial results, Microsoft’s operating income and Earnings Per Share both increased to the tune of 23% and 29% respectively versus the previous fiscal year.
The reduced performance in fiscal Q4 2013 is partially attributed to a $900 million charge for Surface RT “inventory adjustments,” and a $733 million European Commission fine which reduced operating income. On the positive side, Microsoft was able to count $782 million worth of defrred revenue from its Office Upgrade Offer.
According to the Microsoft press release:
“Our diverse business continues to deliver solid financial results, even as we navigate the evolving device market,” said Peter Klein, chief financial officer at Microsoft. “Looking ahead, we will continue to invest in long-term growth opportunities to drive our devices and services strategy forward and deliver ongoing value to shareholders.”
Looking forward, Microsoft has announced that CFO Peter Klein will be leaving the company at the end of the current fiscal year after 11 years total at Microsoft and 4 years in the Chief Financial Officer role. Further, Microsoft expects operating expenses to grow by as much as 6% over fiscal year 2014.
More information can be found in the full financial report.