Microsoft（MSFT）2020Q3決算 好決算
Microsoft（MSFT）2020Q3
・発表日 2020/4/29 post-market
・売上 $35.02B +14.4% コンセンサス予想より+$1.32B
・GAAP EPS $1.40 +23% コンセンサス予想より+$0.13
・GAAP net income $10.8B
・gross margin $24.04B +17.8%
・2020Q4 予想売上 $35.85〜36.8B（コンセンサス予想 $36.52B）
・決算発表後の株価 post-marketで+2.15%
・2020FYコンセンサス予想PER 177.43/5.55=31.96
・2021FYコンセンサス予想PER 177.43/6.17=28.75
・https://www.microsoft.com/en-us/investor
2020Q3に関しては、LinkedInの広告売上が下がるなどはありましたが、COVID-19による業績への大きな影響はないようです。
In the third quarter of fiscal year 2020, COVID-19 had minimal net impact on the total company revenue.
In the Productivity and Business Processes and Intelligent Cloud segments, cloud usage increased, particularly in Microsoft 365 including Teams, Azure, Windows Virtual Desktop, advanced security solutions, and Power Platform, as customers shifted to work and learn from home. In the final weeks of the quarter, there was a slowdown in transactional licensing, particularly in small and medium businesses, and a reduction in advertising spend in LinkedIn.
In the More Personal Computing segment, Windows OEM and Surface benefited from increased demand to support remote work and learn scenarios, offset in part by supply chain constraints in China that improved late in the quarter. Gaming benefited from increased engagement following stay-at-home guidelines. Search was negatively impacted by reductions in advertising spend, particularly in the industries most impacted by COVID-19. The effects of COVID-19 may not be fully reflected in the financial results until future periods.
https://www.microsoft.com/en-us/Investor/earnings/FY-2020-Q3/press-release-webcast
決算発表メモ
セグメントは「Productivity and Business Processes（Office365など）」「Intelligent Cloud（Azureなど）」「More Personal Computing（Surfaceなど）」です。
「Productivity and Business Processes」
売上 $11.7B +15%（為替を除くと+16%） 利益 $4.78B +20.3%
Office Commercial Products 売上 +13%（為替を除くと+15%）
Office 365 Commercial 売上 +25%（為替を除くと+27%）
Office Consumer Products 売上 +15%（為替を除くと+17%）
LinkedIn 売上 +21%（為替を除くと+22%）
Dynamics products and cloud services 売上 +17%（為替を除くと+20%）
Dynamics 365 売上 +47%（為替を除くと+49%）
「Intelligent Cloud」
売上 $12.3B +27%（為替を除くと+29%） 利益$4.56B +42.1%
Azure 売上 +59%（為替を除くと+61%）
「More Personal Computing」
売上 $11B +3%（為替を除くと+4%） 利益$3.62B +14.9%
Windows Commercial products and cloud services 売上 +17%（為替を除くと+18%）
Surface 売上 +1%（為替を除くと+2%）
Xbox content and services 売上 +2%（為替を除くと+2%）
2020Q4の予想は、
Productivity and Business Process 予想売上 $11.65〜11.95B
Intelligent Cloud 予想売上 $12.9〜13.15B
More Personal Computing 予想売上 $11.3〜11.7B
