Microsoft Corp (MSFT)
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Supplied by Morningstar Inc
2015 Annual Report
Earnings Release  FY11 Q3
Office 2010 momentum continues to drive very strong growth
Consumer revenue grew 26%* with increased Office attach to PC's
Business transactional revenue grew 28%; Multi-year licensing grew 5%
SharePoint, Exchange, Dynamics double-digit growth; Lync up 30%
Businesses deploying Office 2010 five times faster than Office 2007
Office 365 beta released
Dynamics CRM 2011 launched
*Adjusted for deferred revenue related to prior year Office 2010 tech guarantee

MBD revenue increased reflecting sales of the 2010 Microsoft Office system, which was released primarily during the fourth quarter of fiscal year 2010, as well as the $305 million Office Deferral during the three months ended March 31, 2010. Consumer revenue increased $525 million or 95%. Excluding the impact associated with the Office Deferral, consumer revenue increased $220 million or 26% due to sales of the 2010 Microsoft Office system. Business revenue increased $386 million or 10%, primarily reflecting licensing of the 2010 Microsoft Office system to transactional business customers, growth in multi-year volume licensing revenue, and a 10% increase in Microsoft Dynamics revenue.

MBD operating income increased due mainly to revenue growth, offset in part by higher operating expenses. Sales and marketing expenses increased $150 million or 16%, due mainly to increased corporate and cross-platform marketing activities and charges related to intangible assets. Cost of revenue increased $80 million or 24%, primarily driven by higher online costs, costs of providing services, and increased amortization of capitalized software development costs. Research and development costs increased $58 million or 13%, primarily as a result of capitalization of certain Microsoft Office system software development costs in the prior year.

Download Segment Information:Excel (27KB)
Microsoft Business Division
RESULTS (in millions, except percentages)
Q311 Q310 Change
Revenue $ 5,252 $ 4,341 21%
$ 3,165 $ 2,542 25%
FY11 Earnings Release Schedule
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