Microsoft Corp (MSFT)
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Supplied by Morningstar Inc
Earnings Release FY14 Q3
Results driven by search advertising and Office 365 Home
Office 365 Home
Currently 4.4 million Office 365 Home subscribers, growing ~1 million in Q3
Bing
Search advertising revenue up 38%
Bing U.S. market share at 18.6%, up 170 basis points
Xbox Live transactional revenue up 17%
Gross margin
Gross margin expansion driven by Office 365 Home and Bing

D&C Other revenue increased $294 million or 18%, due mainly to an increase in online advertising revenue and Subscription revenue. Online advertising revenue increased $144 million or 16%. Search advertising revenue increased 38%, due primarily to increased revenue per search resulting from ongoing improvements in advertising products and higher search volume, offset in part by a 24% reduction in display advertising revenue. Subscription revenue was $98 million for the three months ended March 31, 2014, reflecting subscriber growth of Office 365 Home.

D&C Other gross margin increased $111 million or 26%, due to an increase in revenue, offset in part by a $183 million or 15% increase in cost of revenue. D&C Other cost of revenue grew, due mainly to a $123 million or 21% increase in online advertising cost of revenue, reflecting support of online infrastructure.

Download Segment Information:Excel (27KB)
Devices and Consumer Other
RESULTS (in millions, except percentages)
Q314 Q313 Change
Revenue $ 1,950 $ 1,656 18%
Gross Margin $ 541 $ 430 26%
FY14 Earnings Release Schedule
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