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Cloud underpins Microsoft revenues

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Microsoft reported revenue of $85,3-billion (GAAP) or $92-billion (non-GAAP) for the fiscal year ended 30 June 2016.
Operating income was $20,2-billion GAAP, and $27,9-billion non-GAAP; net income was $16,8-billion GAAP, and $22,3-billion non-GAAP; and diluted earnings per share was $2.10 GAAP, and $2.79 non-GAAP
For the fourth quarter, revenue was $20,6-billion GAAP, and $22,6-billion non-GAAP; operating income was $3.,1-billion GAAP, and $6,2-billion non-GAAP; net income was $3,1-billion GAAP, and $5,5-billion non-GAAP; and diluted earnings per share was $0.39 GAAP, and $0.69 non-GAAP.
“This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations,” says Satya Nadella, CEO of Microsoft. “The Microsoft Cloud is seeing significant customer momentum and we’re well positioned to reach new opportunities in the year ahead.”
During the quarter, Microsoft returned $6,4-billion to shareholders in the form of share repurchases and dividends.
The current quarter effective tax rate reflected a favorable mix of our income between the US and foreign countries, as well as benefits associated with distributions from foreign affiliates. As such, the GAAP and non-GAAP tax rates were 7% and 15%, respectively.
“This fiscal year we invested in innovation and expanded our market presence in key product areas and geographies,” says Amy Hood, executive vice-president and chief financial officer at Microsoft. “I am pleased with the execution from our sales teams and partners this quarter who delivered a strong finish to the fiscal year.”
Revenue in Productivity and Business Processes grew 5% (up 8% in constant currency) to $7-billion, revenue in Intelligent Cloud grew 7% (up 10% in constant currency) to $6,7-billion; and revenue in More Personal Computing declined 4% (down 2% in constant currency) to $8,9-billion.