Bill, I see some ~400 mil. What am I missing here?
Microsoft Corporation Income Statements
(In millions, except earnings per share)
Three Months Ended Nine Months Ended
Mar. 31 Mar. 31
1998 1999 1998 1999
Revenue $3,774 $4,331 $10,489 $13,222
Operating expenses:
Cost of revenue 317 350 883 1,090
Research and development 597 611 1,791 1,889
Acquired in-process technology 0 0 296 0
Sales and marketing 829 996 2,493 2,766
General and administrative 104 144 305 392
Other expenses 60 1 181 60
Total operating expenses 1,907 2,102 5,949 6,197
Operating income 1,867 2,229 4,540 7,025
Investment income 190 720 489 1,318
Gain on sale 0 0 0 160
Income before income taxes 2,057 2,949 5,029 8,503
Provision for income taxes 720 1,032 1,896 2,920
Net income $1,337 $1,917 $ 3,133 $ 5,583
Earnings per share (A):
Basic $ 0.27 $ 0.38 $ 0.64 $ 1.11
Diluted $ 0.25 $ 0.35 $ 0.59 $ 1.02 |
