Microsoft Corporation (MSFT) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Sales/Revenue | 82.89B | 81.27B | 77.67B | 76.44B | 70.07B | 69.63B | 65.58B | 64.73B | 61.86B | 62.02B | 56.52B | 56.19B | 52.86B | 52.75B | 50.12B | 51.87B | 49.36B | 51.73B | 45.32B | 46.15B |
| Revenue Growth % | 18.3% | 16.72% | 18.43% | 18.1% | 13.27% | 12.27% | 16.04% | 15.2% | 17.03% | 17.58% | 12.76% | 8.34% | 7.08% | 1.97% | 10.6% | 12.38% | 18.35% | 20.09% | 21.97% | 21.35% |
| Cost of Goods Sold | 26.83B | 25.98B | 24.04B | 24.01B | 21.92B | 21.8B | 20.1B | 19.68B | 18.5B | 19.62B | 16.3B | 16.8B | 16.13B | 17.49B | 15.45B | 16.43B | 15.62B | 16.96B | 13.65B | 13.99B |
| COGS % of Revenue | 32.37% | 31.96% | 30.95% | 31.42% | 31.28% | 31.31% | 30.65% | 30.41% | 29.92% | 31.64% | 28.84% | 29.89% | 30.51% | 33.15% | 30.83% | 31.68% | 31.63% | 32.79% | 30.11% | 30.31% |
| Gross Profit | 56.06B | 55.3B | 53.63B | 52.43B | 48.15B | 47.83B | 45.49B | 45.04B | 43.35B | 42.4B | 40.22B | 39.39B | 36.73B | 35.26B | 34.67B | 35.44B | 33.74B | 34.77B | 31.67B | 32.16B |
| Gross Margin % | 67.63% | 68.04% | 69.05% | 68.58% | 68.72% | 68.69% | 69.35% | 69.59% | 70.08% | 68.36% | 71.16% | 70.11% | 69.49% | 66.85% | 69.17% | 68.32% | 68.37% | 67.21% | 69.89% | 69.69% |
| Gross Profit Growth % | 16.43% | 15.6% | 17.9% | 16.39% | 11.06% | 12.82% | 13.11% | 14.34% | 18.03% | 20.24% | 15.99% | 11.17% | 8.84% | 1.41% | 9.47% | 10.18% | 17.74% | 20.38% | 21.1% | 25.17% |
| Operating Expenses | 17.66B | 17.02B | 15.67B | 18.1B | 16.15B | 16.18B | 14.93B | 17.12B | 15.77B | 15.37B | 13.32B | 15.14B | 14.38B | 14.86B | 13.15B | 14.9B | 13.38B | 12.52B | 11.43B | 13.07B |
| OpEx % of Revenue | 21.31% | 20.94% | 20.17% | 23.68% | 23.05% | 23.24% | 22.77% | 26.45% | 25.5% | 24.77% | 23.57% | 26.94% | 27.2% | 28.17% | 26.24% | 28.73% | 27.11% | 24.21% | 25.23% | 28.31% |
| Selling, General & Admin | 8.74B | 8.52B | 7.52B | 9.28B | 7.95B | 8.26B | 7.39B | 9.06B | 8.12B | 8.22B | 6.66B | 8.4B | 7.39B | 8.02B | 6.52B | 8.05B | 7.08B | 6.76B | 5.83B | 7.38B |
| SG&A % of Revenue | 10.55% | 10.48% | 9.69% | 12.13% | 11.34% | 11.87% | 11.27% | 14% | 13.13% | 13.26% | 11.79% | 14.95% | 13.99% | 15.2% | 13.02% | 15.53% | 14.33% | 13.07% | 12.87% | 15.99% |
| Research & Development | 8.91B | 8.5B | 8.15B | 8.83B | 8.2B | 7.92B | 7.54B | 8.06B | 7.65B | 7.14B | 6.66B | 6.74B | 6.98B | 6.84B | 6.63B | 6.85B | 6.31B | 5.76B | 5.6B | 5.69B |
| R&D % of Revenue | 10.76% | 10.46% | 10.49% | 11.55% | 11.7% | 11.37% | 11.5% | 12.45% | 12.37% | 11.52% | 11.78% | 11.99% | 13.21% | 12.98% | 13.22% | 13.21% | 12.78% | 11.13% | 12.36% | 12.32% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 38.4B | 38.27B | 37.96B | 34.32B | 32B | 31.65B | 30.55B | 27.93B | 27.58B | 27.03B | 26.89B | 24.25B | 22.35B | 20.4B | 21.52B | 20.53B | 20.36B | 22.25B | 20.24B | 19.09B |
| Operating Margin % | 46.33% | 47.09% | 48.87% | 44.9% | 45.67% | 45.46% | 46.58% | 43.14% | 44.59% | 43.59% | 47.59% | 43.16% | 42.29% | 38.67% | 42.93% | 39.59% | 41.26% | 43.01% | 44.66% | 41.37% |
| Operating Income Growth % | 19.99% | 20.92% | 24.25% | 22.91% | 16.02% | 17.09% | 13.6% | 15.14% | 23.39% | 32.52% | 24.99% | 18.12% | 9.76% | -8.31% | 6.32% | 7.54% | 19.45% | 24.31% | 27.48% | 42.43% |
| EBITDA | 48.56B | 47.47B | 51.02B | 45.53B | 40.74B | 38.48B | 37.94B | 34.3B | 33.61B | 32.99B | 30.82B | 28.13B | 25.9B | 24.05B | 24.31B | 24.51B | 24.14B | 25.74B | 23.45B | 22.44B |
| EBITDA Margin % | 58.59% | 58.41% | 65.69% | 59.56% | 58.15% | 55.26% | 57.84% | 53% | 54.33% | 53.19% | 54.53% | 50.06% | 49% | 45.59% | 48.5% | 47.26% | 48.9% | 49.77% | 51.75% | 48.62% |
| EBITDA Growth % | 19.21% | 23.37% | 34.5% | 32.71% | 21.22% | 16.64% | 23.1% | 21.96% | 29.76% | 37.19% | 26.77% | 14.75% | 7.31% | -6.59% | 3.66% | 9.24% | 20.78% | 24.62% | 26.61% | 32.69% |
| D&A (Non-Cash Add-back) | 10.17B | 9.2B | 13.06B | 11.2B | 8.74B | 6.83B | 7.38B | 6.38B | 6.03B | 5.96B | 3.92B | 3.87B | 3.55B | 3.65B | 2.79B | 3.98B | 3.77B | 3.5B | 3.21B | 3.34B |
| EBIT | 40.12B | 48.98B | 35B | 33.23B | 31.97B | 29.96B | 30.85B | 27.95B | 27.53B | 27.43B | 27.81B | 25.21B | 23.17B | 20.83B | 22.07B | 20.98B | 20.69B | 23.04B | 21.06B | 19.96B |
| Net Interest Income | -48M | 104M | 278M | 154M | 3M | 6M | 99M | -63M | -181M | -175M | 641M | 423M | 252M | 210M | 141M | 56M | 16M | -22M | -19M | -56M |
| Interest Income | 730M | 840M | 976M | 769M | 597M | 600M | 681M | 638M | 619M | 734M | 1.17B | 905M | 748M | 700M | 641M | 552M | 519M | 503M | 520M | 497M |
| Interest Expense | 778M | 736M | 698M | 615M | 594M | 594M | 582M | 701M | 800M | 909M | 525M | 482M | 496M | 490M | 500M | 496M | 503M | 525M | 539M | 553M |
| Other Income/Expense | 942M | 9.97B | -3.66B | -1.71B | -623M | -2.29B | -283M | -675M | -854M | -506M | 389M | 473M | 321M | -60M | 54M | -47M | -174M | 268M | 286M | 310M |
| Pretax Income | 39.34B | 48.25B | 34.3B | 32.62B | 31.38B | 29.36B | 30.27B | 27.25B | 26.73B | 26.53B | 27.28B | 24.73B | 22.67B | 20.34B | 21.57B | 20.49B | 20.19B | 22.52B | 20.52B | 19.41B |
| Pretax Margin % | 47.46% | 59.36% | 44.16% | 42.67% | 44.78% | 42.17% | 46.15% | 42.1% | 43.21% | 42.77% | 48.28% | 44.01% | 42.9% | 38.56% | 43.04% | 39.5% | 40.9% | 43.53% | 45.29% | 42.05% |
| Income Tax | 7.56B | 9.79B | 6.55B | 5.38B | 5.55B | 5.26B | 5.6B | 5.21B | 4.79B | 4.66B | 4.99B | 4.65B | 4.37B | 3.91B | 4.02B | 3.75B | 3.46B | 3.75B | 19M | 2.95B |
| Effective Tax Rate % | 19.22% | 20.29% | 19.11% | 16.5% | 17.7% | 17.9% | 18.51% | 19.13% | 17.91% | 17.55% | 18.3% | 18.79% | 19.29% | 19.24% | 18.62% | 18.29% | 17.15% | 16.66% | 0.09% | 15.19% |
| Net Income | 31.78B | 38.46B | 27.75B | 27.23B | 25.82B | 24.11B | 24.67B | 22.04B | 21.94B | 21.87B | 22.29B | 20.08B | 18.3B | 16.43B | 17.56B | 16.74B | 16.73B | 18.77B | 20.5B | 16.46B |
| Net Margin % | 38.34% | 47.32% | 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% |
| Net Income Growth % | 23.06% | 59.52% | 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% |
| Net Income (Continuing) | 31.78B | 38.46B | 27.75B | 27.23B | 25.82B | 24.11B | 24.67B | 22.04B | 21.94B | 21.87B | 22.29B | 20.08B | 18.3B | 16.43B | 17.56B | 16.74B | 16.73B | 18.77B | 20.5B | 16.46B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 4.27 | 5.16 | 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 | 2.23 | 2.22 | 2.48 | 2.71 | 2.17 |
| EPS Growth % | 23.41% | 59.75% | 12.73% | 23.73% | 17.69% | 10.24% | 10.37% | 9.67% | 20% | 33.18% | 27.23% | 20.63% | 10.36% | -11.29% | -13.28% | 2.77% | 9.36% | 22.17% | 48.9% | 48.63% |
| EPS (Basic) | 4.28 | 5.18 | 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 |
| Diluted Shares Outstanding | 7.45B | 7.46B | 7.47B | 7.46B | 7.46B | 7.47B | 7.47B | 7.47B | 7.47B | 7.47B | 7.46B | 7.47B | 7.46B | 7.47B | 7.49B | 7.51B | 7.53B | 7.55B | 7.57B | 7.58B |
| Basic Shares Outstanding | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.43B | 7.44B | 7.45B | 7.46B | 7.47B | 7.49B | 7.5B | 7.51B | 7.53B |
| Dividend Payout Ratio | 21.26% | 17.58% | 22.23% | 22.65% | 23.89% | 25.59% | 22.6% | 25.3% | 25.4% | 25.49% | 22.66% | 25.17% | 27.65% | 30.84% | 26.32% | 27.67% | 27.77% | 24.79% | 20.51% | 25.6% |