Microsoft Income Statement

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

Millions USD. Fiscal year is Jul - Jun.

Fiscal Quarter	Q2 2026	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
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Revenue	305,453	293,812	281,724	270,010	261,802	254,190	245,122	236,584	227,583	218,310	211,915	207,591	204,094	203,075	198,270	192,557	184,903	176,251	168,088	159,969
Revenue Growth (YoY)	16.67%	15.59%	14.93%	14.13%	15.04%	16.43%	15.67%	13.97%	11.51%	7.50%	6.88%	7.81%	10.38%	15.22%	17.96%	20.37%	20.63%	19.81%	17.53%	15.33%
Cost of Revenue	95,954	91,775	87,831	83,501	80,087	77,911	74,114	71,225	68,848	66,561	65,863	65,345	64,832	64,456	62,650	60,212	57,642	54,876	52,232	50,580
Gross Profit	209,499	202,037	193,893	186,509	181,715	176,279	171,008	165,359	158,735	151,749	146,052	142,246	139,262	138,619	135,620	132,345	127,261	121,375	115,856	109,389
Selling, General & Admin	33,263	33,010	32,877	32,664	32,834	32,794	32,065	31,404	30,678	30,471	30,334	29,986	29,668	28,415	27,725	27,051	26,385	25,708	25,224	24,732
Research & Development	33,677	33,090	32,488	31,715	31,170	30,395	29,510	28,193	27,524	27,226	27,195	27,305	26,627	25,541	24,512	23,350	22,248	21,389	20,716	20,243
Operating Expenses	66,940	66,100	65,365	64,379	64,004	63,189	61,575	59,597	58,202	57,697	57,529	57,291	56,295	53,956	52,237	50,401	48,633	47,097	45,940	44,975
Operating Income	142,559	135,937	128,528	122,130	117,711	113,090	109,433	105,762	100,533	94,052	88,523	84,955	82,967	84,663	83,383	81,944	78,628	74,278	69,916	64,414
Interest Expense	-2,678	-2,538	-2,425	-2,514	-2,722	-3,039	-2,983	-2,762	-2,461	-2,033	-1,995	-1,995	-1,984	-2,012	-2,047	-2,104	-2,233	-2,280	-2,330	-2,465
Interest & Investment Income	3,182	2,942	2,647	2,516	2,538	2,672	3,157	3,424	3,553	3,519	2,994	2,641	2,412	2,215	2,094	2,039	2,039	2,081	2,131	2,229
Earnings From Equity Investments	6,466	-4,240	-	-3,388	-1,542	-546	-	-1,015	-529	-360	-	-	-	-	-32	-	-	-	-	-
Currency Exchange Gain (Loss)	-1,245	-255	-767	627	1,032	-94	123	37	43	125	108	185	1	236	232	7	-135	8	133	393
Other Non Operating Income (Expenses)	3,432	2,188	984	-592	-1,433	-267	-329	-248	267	152	64	-140	-444	-441	-388	-242	-38	-63	20	-131
EBT Excluding Unusual Items	151,716	134,034	128,967	118,779	115,584	111,816	109,401	105,198	101,406	95,455	89,694	85,646	82,952	84,661	83,242	81,644	78,261	74,024	69,870	64,440
Merger & Restructuring Charges	-	-	-	-	-	-	-	-	-	-152	-	-152	-152	-	-	-	-	-	-	-186
Gain (Loss) on Sale of Investments	-5,176	-6,375	-5,340	-518	-1,973	-1,044	-1,614	66	-196	-280	-383	-423	-212	103	474	990	1,419	1,478	1,232	865
Pretax Income	146,540	127,659	123,627	118,261	113,611	110,772	107,787	105,264	101,210	95,023	89,311	85,071	82,588	84,764	83,716	82,634	79,680	75,502	71,102	65,119
Income Tax Expense	27,278	22,747	21,795	21,626	20,861	20,260	19,651	19,083	18,669	17,927	16,950	16,051	15,139	14,975	10,978	10,178	8,495	7,619	9,831	9,104
Net Income	119,262	104,912	101,832	96,635	92,750	90,512	88,136	86,181	82,541	77,096	72,361	69,020	67,449	69,789	72,738	72,456	71,185	67,883	61,271	56,015
Net Income to Common	119,262	104,912	101,832	96,635	92,750	90,512	88,136	86,181	82,541	77,096	72,361	69,020	67,449	69,789	72,738	72,456	71,185	67,883	61,271	56,015
Net Income Growth	28.58%	15.91%	15.54%	12.13%	12.37%	17.40%	21.80%	24.86%	22.38%	10.47%	-0.52%	-4.74%	-5.25%	2.81%	18.71%	29.35%	38.73%	42.92%	38.37%	21.07%
Shares Outstanding (Basic)	7,432	7,433	7,433	7,433	7,433	7,432	7,431	7,432	7,435	7,439	7,446	7,456	7,469	7,482	7,496	7,510	7,521	7,534	7,547	7,561
Shares Outstanding (Diluted)	7,462	7,464	7,465	7,468	7,471	7,471	7,469	7,467	7,465	7,466	7,472	7,482	7,499	7,520	7,540	7,559	7,575	7,591	7,608	7,626
Shares Change (YoY)	-0.12%	-0.09%	-0.05%	0.02%	0.08%	0.06%	-0.04%	-0.20%	-0.45%	-0.71%	-0.90%	-1.03%	-1.00%	-0.94%	-0.89%	-0.88%	-0.93%	-0.97%	-0.98%	-1.01%
EPS (Basic)	16.05	14.11	13.70	13.00	12.48	12.18	11.86	11.60	11.10	10.36	9.72	9.26	9.03	9.33	9.70	9.65	9.46	9.01	8.12	7.41
EPS (Diluted)	15.98	14.06	13.64	12.94	12.41	12.11	11.80	11.54	11.06	10.32	9.68	9.23	9.00	9.29	9.65	9.58	9.39	8.94	8.05	7.34
EPS Growth	28.77%	16.10%	15.59%	12.13%	12.20%	17.35%	21.90%	25.05%	22.93%	11.11%	0.31%	-3.67%	-4.17%	3.91%	19.88%	30.55%	39.98%	44.20%	39.76%	22.26%
Free Cash Flow	77,412	78,017	71,611	69,365	70,031	72,662	74,071	70,576	67,445	63,226	59,475	57,406	59,618	63,334	65,149	63,649	60,693	60,420	56,118	53,789
Free Cash Flow Per Share	10.37	10.45	9.59	9.29	9.37	9.73	9.92	9.45	9.04	8.47	7.96	7.67	7.95	8.42	8.64	8.42	8.01	7.96	7.38	7.05
Dividend Per Share	3.480	3.400	3.320	3.240	3.160	3.080	3.000	2.930	2.860	2.790	2.720	2.660	2.600	2.540	2.480	2.420	2.360	2.300	2.240	2.190
Dividend Growth	10.13%	10.39%	10.67%	10.58%	10.49%	10.39%	10.29%	10.15%	10.00%	9.84%	9.68%	9.92%	10.17%	10.44%	10.71%	10.50%	10.28%	10.05%	9.80%	10.05%
Gross Margin	68.59%	68.76%	68.82%	69.08%	69.41%	69.35%	69.76%	69.89%	69.75%	69.51%	68.92%	68.52%	68.23%	68.26%	68.40%	68.73%	68.83%	68.86%	68.93%	68.38%
Operating Margin	46.67%	46.27%	45.62%	45.23%	44.96%	44.49%	44.64%	44.70%	44.17%	43.08%	41.77%	40.92%	40.65%	41.69%	42.05%	42.56%	42.52%	42.14%	41.59%	40.27%
Profit Margin	39.04%	35.71%	36.15%	35.79%	35.43%	35.61%	35.96%	36.43%	36.27%	35.32%	34.15%	33.25%	33.05%	34.37%	36.69%	37.63%	38.50%	38.52%	36.45%	35.02%
Free Cash Flow Margin	25.34%	26.55%	25.42%	25.69%	26.75%	28.59%	30.22%	29.83%	29.64%	28.96%	28.07%	27.65%	29.21%	31.19%	32.86%	33.05%	32.82%	34.28%	33.39%	33.63%
EBITDA	175,259	166,437	156,528	149,173	140,731	135,269	129,433	125,182	117,475	108,683	102,023	99,061	97,297	98,841	97,983	94,983	90,830	85,745	80,816	75,764
EBITDA Margin	57.38%	56.65%	55.56%	55.25%	53.75%	53.22%	52.80%	52.91%	51.62%	49.78%	48.14%	47.72%	47.67%	48.67%	49.42%	49.33%	49.12%	48.65%	48.08%	47.36%
D&A For EBITDA	32,700	30,500	28,000	27,043	23,020	22,179	20,000	19,420	16,942	14,631	13,500	14,106	14,330	14,178	14,600	13,039	12,202	11,467	10,900	11,350
EBIT	142,559	135,937	128,528	122,130	117,711	113,090	109,433	105,762	100,533	94,052	88,523	84,955	82,967	84,663	83,383	81,944	78,628	74,278	69,916	64,414
EBIT Margin	46.67%	46.27%	45.62%	45.23%	44.96%	44.49%	44.64%	44.70%	44.17%	43.08%	41.77%	40.92%	40.65%	41.69%	42.05%	42.56%	42.52%	42.14%	41.59%	40.27%
Effective Tax Rate	18.62%	17.82%	17.63%	18.29%	18.36%	18.29%	18.23%	18.13%	18.45%	18.87%	18.98%	18.87%	18.33%	17.67%	13.11%	12.32%	10.66%	10.09%	13.83%	13.98%
Revenue as Reported	305,453	293,812	281,724	270,010	261,802	254,190	245,122	236,584	227,583	218,310	211,915	207,591	204,094	203,075	198,270	192,557	184,903	176,251	168,088	159,969
Advertising Expenses	-	-	2,100	-	-	-	1,700	-	-	-	904	-	-	-	1,500	-	-	-	1,500	-

Updated Jan 28, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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