Earnings Release FY23 Q2

Income Statements
(In millions, except per share amounts) (Unaudited)		Three Months Ended December 31,		Six Months Ended December 31,
(In millions, except per share amounts) (Unaudited)		2022	2021	2022	2021
	Revenue:
	Product	$ 16,517	$ 20,779	$ 32,258	$ 37,410
	Service and other	36,230	30,949	70,611	59,635
	Total revenue	52,747	51,728	102,869	97,045
	Cost of revenue:
	Product	5,690	6,331	9,992	10,123
	Service and other	11,798	10,629	22,948	20,483
	Total cost of revenue	17,488	16,960	32,940	30,606
	Gross margin	35,259	34,768	69,929	66,439
	Research and development	6,844	5,758	13,472	11,357
	Sales and marketing	5,679	5,379	10,805	9,926
	General and administrative	2,337	1,384	3,735	2,671
	Operating income	20,399	22,247	41,917	42,485
	Other income (expense), net	(60)	268	(6)	554
	Income before income taxes	20,339	22,515	41,911	43,039
	Provision for income taxes	3,914	3,750	7,930	3,769
	Net income	$ 16,425	$ 18,765	$ 33,981	$ 39,270
	Earnings per share:
	Basic	$ 2.20	$ 2.50	$ 4.56	$ 5.23
	Diluted	$ 2.20	$ 2.48	$ 4.54	$ 5.19
	Weighted average shares outstanding:
	Basic	7,451	7,505	7,454	7,509
	Diluted	7,473	7,555	7,479	7,561

IMPORTANT NOTICE TO USERS (summary only, click here for full text of notice); All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our Forms 10-Q and 10-K.

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