FY24 Q2 - Income Statements - Investor Relations

Earnings Release FY24 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)		2023	2022	2023	2022
	Revenue:
	Product	$ 18,941	$ 16,517	$ 34,476	$ 32,258
	Service and other	43,079	36,230	84,061	70,611
	Total revenue	62,020	52,747	118,537	102,869
	Cost of revenue:
	Product	5,964	5,690	9,495	9,992
	Service and other	13,659	11,798	26,430	22,948
	Total cost of revenue	19,623	17,488	35,925	32,940
	Gross margin	42,397	35,259	82,612	69,929
	Research and development	7,142	6,844	13,801	13,472
	Sales and marketing	6,246	5,679	11,433	10,805
	General and administrative	1,977	2,337	3,451	3,735
	Operating income	27,032	20,399	53,927	41,917
	Other expense, net	(506)	(60)	(117)	(6)
	Income before income taxes	26,526	20,339	53,810	41,911
	Provision for income taxes	4,656	3,914	9,649	7,930
	Net income	$ 21,870	$ 16,425	$ 44,161	$ 33,981
	Earnings per share:
	Basic	$ 2.94	$ 2.20	$ 5.94	$ 4.56
	Diluted	$ 2.93	$ 2.20	$ 5.92	$ 4.54
	Weighted average shares outstanding:
	Basic	7,432	7,451	7,431	7,454
	Diluted	7,468	7,473	7,465	7,479

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.