INCOME STATEMENTS
| (In millions, except per share amounts) | |||
|---|---|---|---|
| Year Ended June 30, | 2008 | 2007 | 2006 |
| Revenue | $60,420 | $51,122 | $44,282 |
| Operating expenses: | |||
| Cost of revenue | 11,598 | 10,693 | 7,650 |
| Research and development | 8,164 | 7,121 | 6,584 |
| Sales and marketing | 13,039 | 11,455 | 9,818 |
| General and administrative | 5,127 | 3,329 | 3,758 |
| Total operating expenses | 37,928 | 32,598 | 27,810 |
| Operating income | 22,492 | 18,524 | 16,472 |
| Investment income and other | 1,322 | 1,577 | 1,790 |
| Income before income taxes | 23,814 | 20,101 | 18,262 |
| Provision for income taxes | 6,133 | 6,036 | 5,663 |
| Net income | $17,681 | $14,065 | $12,599 |
| Earnings per share: | |||
| Basic | $1.90 | $1.44 | $1.21 |
| Diluted | $1.87 | $1.42 | $1.20 |
| Weighted average shares outstanding: | |||
| Basic | 9,328 | 9,742 | 10,438 |
| Diluted | 9,470 | 9,886 | 10,531 |
| Cash dividends declared per common share | $0.44 | $0.40 | $0.35 |
See accompanying notes.