Microsoft Corp MSFT
Q4 2013 Earnings Call Transcript

Transcript Call Date 07/18/2013

Operator: Welcome to Microsoft's Fiscal Year 2013 Fourth Quarter Earnings Conference Call. All lines have been placed in a listen-only mode until the question-and-answer session. Today's call is being recorded. If anyone has any objections, please disconnect at this time.

I would now like to turn the meeting over to Chris Suh, General Manager of Investor Relations. Chris, you may begin.

Chris Suh - GM, IR: Thank you, operator. On our website, is our financial summary slide deck, which is intended to follow our prepared remarks and provides a reconciliation of differences between GAAP and non-GAAP financial measures.

As a reminder, we will post today's prepared remarks to our website immediately following the call until the complete transcript is available. Today's call is being webcast live and recorded. If you ask a question, it will be included in our live transmission, in the transcript and any future use of the recording. You can replay the call and view the transcript at the Microsoft Investor Relations website until July 18, 2014.

During this call, we will be making forward-looking statements that are predictions, projections or other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed in today's earnings press release, in the comments made during this conference call and in the Risk Factors section of our Form 10-K, Form 10-Q and other reports and filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statements.

Before I hand the call over to Amy, I'd like to remind you that all growth comparisons we make on the call today will relate to the corresponding period of last year. Also, unless specified otherwise, all impacted numbers for the current quarter have been adjusted for the cumulative effect of the revenue deferrals and recognitions related to the Office and Windows upgrade offers, the $900 million charge for inventory adjustments, primarily related to the new Surface RT pricing we announced earlier this week and the goodwill impairment charge from last year.

You can find the details of the adjustments and reconciliations of differences between GAAP and non-GAAP financial measures in our financial summary slide deck.

With that I’ll turn the call over to Amy.

Amy Hood - EVP and CFO: Thanks, Chris and good afternoon, everyone. Thanks for joining us today. In many ways, our fourth quarter results reflect the trends we saw developing throughout the fiscal year. The consumer x86 PC market declined as users continued to prioritize devices to touch and mobility. At the same time, we saw continued strength in our enterprise products and cloud solutions and increased adoption of our consumer services.

This quarter, our Windows business declined as the device market continued to evolve behind the traditional PC. We’re working to transition the business into this modern era of computing, taking advantage of the new scenarios enabled by Windows 8.

Read our Earnings Call Transcript disclaimer.
Add a Comment
E-mail me new replies.