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Terrell Manning Group

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Kent Moger
Kent Moger

Microsoft Earnings Reveal $21.7 Billion Total Revenue

For the quarter, Apple posted revenue of $81.4 billion and net quarterly profit of $21.7 billion, or $1.30 per diluted share, compared to revenue of $59.7 billion and net quarterly profit of $11.25 billion, or $0.65 per diluted share, in the year-ago quarter. Apple's top-line numbers shattered June quarter records for the company.

Microsoft Earnings Reveal $21.7 Billion Total Revenue

All told, Apple said it notched a profit of $21.7 billion, nearly double from the same last year. That translates to $1.30 per share in earnings, off $81.4 billion in overall revenue, which itself was up 36% from last year. That was also well above what analysts had been expecting the company to report, which on average was $1 per share in earnings and nearly $73 billion in revenue, according to surveys published by Yahoo Finance.

For the quarter, Apple generated revenue of $82.959 billion, a 1.9% increase compared to Q3 2021. Product sales were down -0.9%, as a 2.8% increase in iPhones (49% of total sales), was more than offset by declines in Mac, iPad, and Wearables, Home and Accessories. Service sales increased 12.1% to $19.6 billion and made up 23.6% of all sales in the quarter. Net income equaled $19.4 billion or $1.20 per share compared to $21.7 billion or $1.30 per share in Q3 2021.

S&P reported third quarter earnings on October 27th, 2022, and results were mixed. Adjusted earnings-per-share came to $2.93, which was 13 cents better than expected. Revenue, however, despite rising 37% year-over-year to $2.86 billion, was $60 million light against estimates. Adjusted operating profit declined 200bps to 46.0% of revenue from the year-ago period.

The company has completed $11 billion of its $12 billion accelerated share repurchase program put in place earlier this year, and expects to complete the final $1 billion in December. Adjusted revenue fell 8% year-over-year, and declined 6% on a constant currency basis. The company is struggling as rates have risen, as that results in fewer debt issuances from around the world. On an adjusted basis, earnings-per-share declined from $3.05 to $2.93.

Johnson & Johnson narrowed its earnings per share guidance to $10.02 to $10.07 (compared to $10.00 to $10.00 previously) and lowered its revenue guidance to be between $93.0 billion and $93.5 billion ($93.3 billion to $94.3 billion previously). The guidance revision was a result of the strengthening U.S. dollar.

It forecast third-quarter revenue in its so-called intelligent cloud business would be $21.7 billion to $22 billion, just below the analyst average forecast of $22.14 billion, according to Refinitiv. In the second quarter revenue from that segment beat expectations slightly at $21.5 billion.

According to Gartner, Microsoft turned over $21.7 billion in the cloud infrastructure and platform service market in 2021, behind AWS, which brought in $41.697 billion. In SaaS, Microsoft generated $16.643 billion in revenues versus Salesforce in second with $13.5 billion.

But Microsoft still relies heavily on selling traditional software, which contributed the largest part of its $21.7 billion in sales for the quarter. While overall revenue increased, thanks to sales by the newly acquired Nokia phone business, the company saw a 26 percent drop in Windows licensing revenue for consumer PCs and a 19 percent drop in licensing for business PCs.

Microsoft released its fiscal second-quarter 2023 earnings report on Jan. 24, 2023. Non-GAAP earnings per share (EPS) came in at $2.32 versus $2.31 consensus analyst estimates, a $0.01 beat. Total revenues climbed 2% to $52.75 billion, falling short of analyst expectations of $53.17 billion.

Microsoft provided revenue guidance during its conference call. This caused shares to lose their gap and sell off in the postmarket. The company expects Productivity and Business Processes revenues to grow 11% to 13%, or $16.9 billion to $17.2 billion. Intelligent Cloud is expected to see 17% to 19% constant currency growth or $21.7 to $22 billion.

This list has all global annual earnings of all time, limited to earnings of more than $40 billion in "real" (i.e. CPI adjusted) value. Note that some record earning may be caused by nonrecurring revenue, like Vodafone in 2014 (disposal of its interest in Verizon Wireless)[1] or Fannie Mae in 2013 (benefit for federal income taxes).[2] 350c69d7ab


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