Microsoft Corp (MSFT)
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Supplied by Morningstar Inc
Earnings Release  FY13 Q3
Continued RPS and operating performance improvement
Online advertising revenue grew 22% driven by significant rate improvement in search
Operating loss improvement of $218 million or 45%
Bing U.S. market share at 16.9%, up 160 basis points y/y

Online advertising revenue grew $143 million or 22% to $784 million, reflecting continued growth in search advertising revenue, offset in part by decreased display advertising revenue. Search revenue grew, primarily due to increased revenue per search. According to third-party sources, Bing organic U.S. market share for the month of March 2013 was approximately 17%, and grew 160 basis points year over year. Bing-powered U.S. market share, including Yahoo! Inc. (“Yahoo!”) properties, was approximately 26% for the month of March 2013, which grew 20 basis points year over year.

OSD’s operating loss was reduced by higher revenue and lower cost of revenue and sales and marketing expenses. Cost of revenue decreased $65 million, driven by lower traffic acquisition costs. Sales and marketing expenses decreased $31 million or 15%, due mainly to decreased advertising and corporate sales and marketing activities.

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Online Services Division
RESULTS (in millions, except percentages)
Q313 Q312 Change
Revenue $ 832 $ 707 18%
Operating
Loss
$ (262) $ (480) 45%
FY13 Earnings Release Schedule
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