Microsoft Earnings Release FY15 Q3

Microsoft Earnings Release FY15 Q3

Microsoft EPS Solidly Beat Analysts Expectations.

Microsoft reported:

  • Q3 EPS of $0.62 (analysts expected $0.51 earnings per share)
  • Q3 revenue of $21.73 billion (analysts expected $21.06 billion in revenue) according to Yahoo Finance.

Here are the highlights from the press release.

REDMOND, Wash. — April 23, 2015 — Microsoft Corp. today announced that revenues for the quarter ended March 31, 2015 grew to $21.7 billion.  Gross margin, operating income, and diluted earnings per share (“EPS”) for the quarter were $14.6 billion, $6.6 billion, and $0.61 per share, respectively.

Devices and Consumer revenue grew 8% (up 11% in constant currency) to $9.0 billion, with the following business highlights:

  • Office 365 Consumer subscribers increased to over 12.4 million, up 35% sequentially
  • Windows OEM Pro revenue declined 19%, as Pro mix returned to pre-Windows XP end-of-support levels and the business PC market declined
  • Windows OEM non-Pro revenue declined 26%, primarily due to channel inventory drawdown and ongoing mix shift to opening price point devices
  • Search advertising revenue grew 21% (up 24% in constant currency), with Bing U.S. market share at 20.1%, up 150 basis points over prior year
  • Xbox Live usage grew over 30%, driven by increased users and deeper user engagement
  • Surface revenue of $713 million, up 44% (up 53% in constant currency) driven by Surface Pro 3
  • Phone Hardware revenue of $1.4 billion, with 8.6 million Lumia units sold

Commercial revenue grew 5% (up 7% in constant currency) to $12.8 billion, with the following business highlights:

  • Commercial cloud revenue grew 106% (up 111% in constant currency) driven by Office 365, Azure and Dynamics CRM Online, and is now on an annualized revenue run rate of $6.3 billion
  • Server products and services revenue grew 12% (up 16% in constant currency), with premium versions of Windows Server, System Center Server and SQL Server together growing 25%
  • Office Commercial products and services revenue declined 2% (up 1% in constant currency); transactional revenue was impacted by the continued transition to Office 365 and declines in business PC sales following the XP refresh cycle
  • Windows volume licensing revenue declined 2% (up 1% in constant currency), with transactional revenue declining following the XP refresh cycle partially offset by annuity revenue growth

 

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