FY23 Q3 - Income Statement - Investor Relations

Earnings Release FY23 Q3

Income Statements
(In millions, except per share amounts) (Unaudited)		Three Months Ended March 31,		Nine Months Ended March 31,
(In millions, except per share amounts) (Unaudited)		2023	2022	2023	2022
	Revenue:
	Product	$ 15,588	$ 17,366	$ 47,846	$ 54,776
	Service and other	37,269	31,994	107,880	91,629
	Total revenue	52,857	49,360	155,726	146,405
	Cost of revenue:
	Product	3,941	4,584	13,933	14,707
	Service and other	12,187	11,031	35,135	31,514
	Total cost of revenue	16,128	15,615	49,068	46,221
	Gross margin	36,729	33,745	106,658	100,184
	Research and development	6,984	6,306	20,456	17,663
	Sales and marketing	5,750	5,595	16,555	15,521
	General and administrative	1,643	1,480	5,378	4,151
	Operating income	22,352	20,364	64,269	62,849
	Other income (expense), net	321	(174)	315	380
	Income before income taxes	22,673	20,190	64,584	63,229
	Provision for income taxes	4,374	3,462	12,304	7,231
	Net income	$ 18,299	$ 16,728	$ 52,280	$ 55,998
	Earnings per share:
	Basic	$ 2.46	$ 2.23	$ 7.02	$ 7.46
	Diluted	$ 2.45	$ 2.22	$ 6.99	$ 7.41
	Weighted average shares outstanding:
	Basic	7,441	7,493	7,450	7,504
	Diluted	7,464	7,534	7,474	7,552

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.