Financial Highlights
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(In millions, except earnings per share) |
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Year Ended June 30 |
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1999 |
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2000 |
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2001(2) |
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2002(3) |
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2003(4) |
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Revenue |
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$19,747 |
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$22,956 |
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$25,296 |
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$28,365 |
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$32,187 |
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Operating income |
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10,010 |
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11,006 |
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11,720 |
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11,910 |
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13,217 |
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Income before accounting change |
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7,785 |
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9,421 |
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7,721 |
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7,829 |
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9,993 |
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Net income |
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7,785 |
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9,421 |
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7,346 |
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7,829 |
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9,993 |
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Diluted earnings per share before accounting change(1) |
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0.71 |
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0.85 |
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0.69 |
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0.70 |
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0.92 |
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Diluted earnings per share(1) |
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0.71 |
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0.85 |
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0.66 |
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0.70 |
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0.92 |
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Cash dividends per share |
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- |
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- |
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- |
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- |
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0.08 |
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Cash and short-term investments |
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17,236 |
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23,798 |
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31,600 |
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38,652 |
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49,048 |
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Total assets |
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38,321 |
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51,694 |
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58,830 |
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67,646 |
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79,571 |
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Stockholders' equity |
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28,438 |
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41,368 |
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47,289 |
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52,180 |
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61,020 |
(1) Earnings per share have been restated to reflect a two-for-one stock split in February 2003.
(2) Fiscal year 2001 includes an unfavorable cumulative effect of accounting change of $375 million or $0.03 per diluted share, reflecting the adoption of SFAS No. 133, and $4.80 billion (pre-tax) in impairments of certain investments, primarily cable and telecommunication investments.
(3) Fiscal year 2002 includes $4.32 billion (pre-tax) in impairments of certain investments, primarily related to our AT&T investment and further declines in the fair values of European cable and telecommunications holdings, and a $1.25 billion (pre-tax) gain on the sale of Expedia, Inc.
(4) Fiscal year 2003 includes $1.15 billion (pre-tax) in impairments of certain investments.
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