微软Microsoft Corporation（MSFT） 2012年年度报告「NASDAQ」.pdf

1、TO OUR SHAREHOLDERS, CUSTOMERS, PARTNERS AND EMPLOYEES: Last year was a big year we delivered strong results, launched fantastic new products and services, and positioned Microsoft for an incredible future. For fiscal year 2012, revenue grew to a record $73.7 billion. We also maintained strong cost

2、discipline resulting in cash flow from operations of $31.6 billion, an increase of 17 percent from the prior year. In addition, we returned $10.7 billion to shareholders through stock buybacks and dividends. We delivered these results while preparing a pipeline of new and updated products that will

3、launch in the year ahead. To best understand what we are about to deliver and what were building toward, its important to recognize a fundamental shift underway in our business and the areas of technology that we believe will drive the greatest opportunity in the future. Our Business: Devices and Se

4、rvices Last year in this letter I said that over time, the full value of our software will be seen and felt in how people use devices and services at work and in their personal lives. This is a significant shift, both in what we do and how we see ourselves as a devices and services company. It impac

5、ts how we run the company, how we develop new experiences, and how we take products to market for both consumers and businesses. The work we have accomplished in the past year and the roadmap in front of us brings this to life. Devices With End-User Services We will continue to work with a vast ecos

6、ystem of partners to deliver a broad spectrum of Windows PCs, tablets and phones. We do this because our customers want great choices and we believe there is no way one size suits over 1.3 billion Windows users around the world. There will be times when we build specific devices for specific purpose