Microsoft Corp (MSFT)
Earnings Release  FY12 Q2
Search drives double-digit revenue growth
Online advertising revenue grew 13%, driven by improved rates and volume in Bing
Bing US market share at 15.1%, up over 300 basis points Y/Y
Bing-powered U.S. search share, including Yahoo! properties, is at 27%, up 220 bps Y/Y
Improved operating performance driven by revenue growth and expense management

OSD revenue increased primarily as a result of growth in online advertising revenue. Online advertising revenue grew $81 million or 13% to $713 million, reflecting continued growth in search and display advertising revenue, offset in part by decreased third party display advertising revenue. As of December 31, 2011, according to third-party sources, Bing organic U.S. market share grew over 25% from December 31, 2010 to approximately 15%. Bing-powered U.S. market share, including Yahoo! properties, grew over 9% during this same period to approximately 27%.

OSD operating loss decreased due primarily to higher revenue and lower sales and marketing expenses, offset in part by increased cost of revenue.

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Online Services Division
RESULTS (in millions, except percentages)
Q212 Q211 Change
Revenue $ 784 $ 713 10%
Operating
Loss
$ (458) $ (559) 18%
FY12 Earnings Release Schedule
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