Microsoft Corporation (MSFT)

Microsoft Income Statement

Financials in millions USD. Fiscal year is July - June.

Fiscal Quarter	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Period Ending	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020
Revenue	77,673	76,441	70,066	69,632	65,585	64,727	61,858	62,020	56,517	56,189	52,857	52,747	50,122	51,865	49,360	51,728	45,317	46,152	41,706	43,076
Revenue Growth (YoY)	18.43%	18.10%	13.27%	12.27%	16.05%	15.20%	17.03%	17.58%	12.76%	8.34%	7.08%	1.97%	10.60%	12.38%	18.35%	20.09%	21.97%	21.35%	19.09%	16.72%
Cost of Revenue	24,043	24,014	21,919	21,799	20,099	19,684	18,505	19,623	16,302	16,795	16,128	17,336	15,452	16,429	15,615	16,960	13,646	13,991	13,045	14,194
Gross Profit	53,630	52,427	48,147	47,833	45,486	45,043	43,353	42,397	40,215	39,394	36,729	35,411	34,670	35,436	33,745	34,768	31,671	32,161	28,661	28,882
Selling, General & Admin	7,523	9,275	7,949	8,263	7,390	9,062	8,119	8,223	6,661	8,401	7,393	8,016	6,524	8,053	7,075	6,763	5,834	7,379	6,409	6,086
Research & Development	8,146	8,829	8,198	7,917	7,544	8,056	7,653	7,142	6,659	6,739	6,984	6,844	6,628	6,849	6,306	5,758	5,599	5,687	5,204	4,899
Operating Expenses	15,669	18,104	16,147	16,180	14,934	17,118	15,772	15,365	13,320	15,140	14,377	14,860	13,152	14,902	13,381	12,521	11,433	13,066	11,613	10,985
Operating Income	37,961	34,323	32,000	31,653	30,552	27,925	27,581	27,032	26,895	24,254	22,352	20,551	21,518	20,534	20,364	22,247	20,238	19,095	17,048	17,897
Interest Expense	-707	-624	-603	-604	-594	-713	-811	-921	-538	-492	-510	-493	-500	-492	-499	-521	-535	-549	-628	-568
Interest & Investment Income	976	769	597	600	681	638	619	734	1,166	905	748	700	641	552	519	503	520	497	519	545
Earnings From Equity Investments	-4,923	2,861	-1,013	-1,165	-683	792	-486	-169	-137	-223	-	-	-	-	-	-	-	-	-	-
Currency Exchange Gain (Loss)	354	-1,255	-233	879	-158	187	124	-247	59	101	130	-165	103	117	-54	70	99	-108	-196	213
Other Non Operating Income (Expenses)	1,212	1,596	518	-1,138	8	-28	-275	28	-54	53	2	-87	-203	-90	-64	-84	-169	75	140	-109
EBT Excluding Unusual Items	34,873	37,670	31,266	30,225	29,806	28,801	26,752	26,457	27,391	24,598	22,722	20,506	21,559	20,621	20,266	22,215	20,153	19,010	16,883	17,978
Merger & Restructuring Charges	-	-	-	-	-	-	-	-	-	-	-	-152	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Investments	-572	-5,054	111	-860	463	-1,551	-25	69	-107	129	-49	-15	13	-134	-76	300	371	395	353	359
Pretax Income	34,301	32,616	31,377	29,365	30,269	27,250	26,727	26,526	27,284	24,727	22,673	20,339	21,572	20,487	20,190	22,515	20,524	19,405	17,236	18,337
Income Tax Expense	6,554	5,383	5,553	5,257	5,602	5,214	4,788	4,656	4,993	4,646	4,374	3,914	4,016	3,747	3,462	3,750	19	2,947	1,779	2,874
Net Income	27,747	27,233	25,824	24,108	24,667	22,036	21,939	21,870	22,291	20,081	18,299	16,425	17,556	16,740	16,728	18,765	20,505	16,458	15,457	15,463
Net Income to Common	27,747	27,233	25,824	24,108	24,667	22,036	21,939	21,870	22,291	20,081	18,299	16,425	17,556	16,740	16,728	18,765	20,505	16,458	15,457	15,463
Net Income Growth	12.49%	23.58%	17.71%	10.23%	10.66%	9.74%	19.89%	33.15%	26.97%	19.96%	9.39%	-12.47%	-14.38%	1.71%	8.22%	21.35%	47.59%	46.92%	43.76%	32.74%
Shares Outstanding (Basic)	7,433	7,432	7,434	7,435	7,433	7,433	7,431	7,432	7,429	7,434	7,441	7,451	7,457	7,474	7,493	7,505	7,513	7,527	7,539	7,555
Shares Outstanding (Diluted)	7,466	7,461	7,461	7,468	7,470	7,472	7,472	7,468	7,462	7,467	7,464	7,473	7,485	7,506	7,534	7,555	7,567	7,581	7,597	7,616
Shares Change (YoY)	-0.05%	-0.15%	-0.15%	-	0.11%	0.07%	0.11%	-0.07%	-0.31%	-0.52%	-0.93%	-1.08%	-1.08%	-0.99%	-0.83%	-0.80%	-0.92%	-0.90%	-1.02%	-0.97%
EPS (Basic)	3.73	3.66	3.47	3.24	3.32	2.96	2.95	2.94	3.00	2.70	2.46	2.20	2.35	2.24	2.23	2.50	2.73	2.19	2.05	2.05
EPS (Diluted)	3.72	3.65	3.46	3.23	3.30	2.95	2.94	2.93	2.99	2.69	2.45	2.20	2.35	2.24	2.22	2.48	2.71	2.17	2.03	2.03
EPS Growth	12.73%	23.70%	17.69%	10.24%	10.37%	9.71%	20.00%	33.18%	27.23%	20.18%	10.36%	-11.29%	-13.28%	3.11%	9.36%	22.17%	48.90%	48.61%	45.00%	34.44%
Free Cash Flow	25,663	25,568	20,299	6,487	19,257	23,322	20,965	9,118	20,666	19,827	17,834	4,899	16,915	17,758	20,046	8,615	18,730	16,258	17,090	8,342
Free Cash Flow Per Share	3.44	3.43	2.72	0.87	2.58	3.12	2.81	1.22	2.77	2.65	2.39	0.66	2.26	2.37	2.66	1.14	2.48	2.15	2.25	1.09
Dividend Per Share	0.910	0.830	0.830	0.830	0.830	0.750	0.750	0.750	0.750	0.680	0.680	0.680	0.680	0.620	0.620	0.620	0.620	0.560	0.560	0.560
Dividend Growth	9.64%	10.67%	10.67%	10.67%	10.67%	10.29%	10.29%	10.29%	10.29%	9.68%	9.68%	9.68%	9.68%	10.71%	10.71%	10.71%	10.71%	9.80%	9.80%	9.80%
Gross Margin	69.05%	68.58%	68.72%	68.69%	69.35%	69.59%	70.08%	68.36%	71.16%	70.11%	69.49%	67.13%	69.17%	68.32%	68.36%	67.21%	69.89%	69.69%	68.72%	67.05%
Operating Margin	48.87%	44.90%	45.67%	45.46%	46.58%	43.14%	44.59%	43.59%	47.59%	43.16%	42.29%	38.96%	42.93%	39.59%	41.26%	43.01%	44.66%	41.37%	40.88%	41.55%
Profit Margin	35.72%	35.63%	36.86%	34.62%	37.61%	34.04%	35.47%	35.26%	39.44%	35.74%	34.62%	31.14%	35.03%	32.28%	33.89%	36.28%	45.25%	35.66%	37.06%	35.90%
Free Cash Flow Margin	33.04%	33.45%	28.97%	9.32%	29.36%	36.03%	33.89%	14.70%	36.57%	35.29%	33.74%	9.29%	33.75%	34.24%	40.61%	16.65%	41.33%	35.23%	40.98%	19.37%
EBITDA	46,561	39,373	40,740	38,480	36,652	32,018	33,608	32,991	30,816	27,767	25,901	24,199	24,308	24,653	24,137	25,743	23,450	21,653	19,984	20,658
EBITDA Margin	59.95%	51.51%	58.15%	55.26%	55.88%	49.47%	54.33%	53.19%	54.52%	49.42%	49.00%	45.88%	48.50%	47.53%	48.90%	49.77%	51.75%	46.92%	47.92%	47.96%
D&A For EBITDA	8,600	5,050	8,740	6,827	6,100	4,093	6,027	5,959	3,921	3,513	3,549	3,648	2,790	4,119	3,773	3,496	3,212	2,558	2,936	2,761
EBIT	37,961	34,323	32,000	31,653	30,552	27,925	27,581	27,032	26,895	24,254	22,352	20,551	21,518	20,534	20,364	22,247	20,238	19,095	17,048	17,897
EBIT Margin	48.87%	44.90%	45.67%	45.46%	46.58%	43.14%	44.59%	43.59%	47.59%	43.16%	42.29%	38.96%	42.93%	39.59%	41.26%	43.01%	44.66%	41.37%	40.88%	41.55%
Effective Tax Rate	19.11%	16.50%	17.70%	17.90%	18.51%	19.13%	17.91%	17.55%	18.30%	18.79%	19.29%	19.24%	18.62%	18.29%	17.15%	16.66%	0.09%	15.19%	10.32%	15.67%
Revenue as Reported	77,673	76,441	70,066	69,632	65,585	64,727	61,858	62,020	56,517	56,189	52,857	52,747	50,122	51,865	49,360	51,728	45,317	46,152	41,706	43,076

Updated Oct 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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