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Financial Review

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NOTE 23 — QUARTERLY INFORMATION (Unaudited)

(In millions, except per share amounts)
Quarter Ended September 30 December 31 March 31 June 30 Total
Fiscal year 2010
Revenue $12,920(b) $19,022(a) $14,503 $16,039 $62,484
Gross profit 10,078 15,394 11,748 12,869 50,089
Net income 3,574 6,662 4,006 4,518 18,760
Basic earnings per share 0.40 0.75 0.46 0.52 2.13
Diluted earnings per share 0.40 0.74 0.45 0.51 2.10
Fiscal year 2009
Revenue $15,061 $16,629 $13,648 $13,099(c) $58,437
Gross profit 12,213 12,722 10,834 10,513 46,282
Net income 4,373 4,174 2,977(d) 3,045(d) 14,569
Basic earnings per share 0.48 0.47 0.33 0.34 1.63
Diluted earnings per share 0.48 0.47 0.33 0.34 1.62
Fiscal year 2008
Revenue $13,762 $16,367 $14,454 $15,837 $60,420
Gross profit 11,087 12,824 11,940 12,971 48,822
Net income 4,289 4,707 4,388(e) 4,297 17,681
Basic earnings per share 0.46 0.50 0.47 0.46 1.90
Diluted earnings per share 0.45 0.50 0.47 0.46 1.87
(a) Reflects $1.7 billion of revenue recognized for sales of Windows Vista with a guarantee to be upgraded to Windows 7 at minimal or no cost and of Windows 7 to original equipment manufacturers and retailers before general availability (the “Windows 7 Deferral”).
(b) Reflects $1.5 billion of revenue deferred to future periods relating to the Windows 7 Deferral.
(c) Reflects $276 million of revenue deferred to future periods relating to the Windows 7 Deferral.
(d) Includes employee severance of $290 million and $40 million (pre-tax) in the third and fourth quarters of the year ended June 30, 2009, respectively.
(e) Includes charge of $1.4 billion (€899 million) related to the fine imposed by the European Commission in February 2008.