Earnings Release FY20 Q1

Table Power BI

Income Statements
(In millions, except per share amounts) (Unaudited)		Three Months Ended September 30,
(In millions, except per share amounts) (Unaudited)		2019	2018
	Revenue:
	Product	$ 15,768	$ 17,299
	Service and other	17,287	11,785
	Total revenue	33,055	29,084
	Cost of revenue:
	Product	3,305	3,649
	Service and other	7,101	6,256
	Total cost of revenue	10,406	9,905
	Gross margin	22,649	19,179
	Research and development	4,565	3,977
	Sales and marketing	4,337	4,098
	General and administrative	1,061	1,149
	Operating income	12,686	9,955
	Other income, net	0	266
	Income before income taxes	12,686	10,221
	Provision for income taxes	2,008	1,397
	Net income	$ 10,678	$ 8,824
	Earnings per share:
	Basic	$ 1.40	$ 1.15
	Diluted	$ 1.38	$ 1.14
	Weighted average shares outstanding:
	Basic	7,634	7,673
	Diluted	7,710	7,766

IMPORTANT NOTICE TO USERS (summary only, click here for full text of notice); All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our Forms 10-Q and 10-K.