News

MSFT Claims Billion Dollar Clerical Error

Microsoft this week admitted to making a $1 billion mistake in recent Securities and Exchange Commission filings about its earnings.

The company cited a "clerical error in the amount of unearned revenue and the recognition of unearned revenue." Unearned revenue is a financial term for revenues a company has received but for which it has not yet provided any products or services.

Microsoft originally reported unearned revenue as $1.1 billion for the quarter ended Sept. 30 and $3.8 billion for the six months ending Dec. 31. The corrected figures were $2.1 billion and $4.8 billion.

Microsoft claims the net cash from operations and the net change in cash and equivalents for the two reporting periods were not affected by the correction.

About the Author

Scott Bekker is editor in chief of Redmond Channel Partner magazine.

Featured

  • Microsoft Defender ATP Gets macOS Investigation Support

    The endpoint and detection response (EDR) feature in Microsoft Defender Advanced Threat Protection (ATP) has reached the "general availability" stage for macOS devices.

  • How To Block Self-Service Purchasing in Microsoft's Power Platform

    Microsoft threw Office 365 admins a bone when it gave them the ability to block users from purchasing Power Platform tools without IT approval. Here's how to prevent total anarchy.

  • Azure DevOps Services Losing Support for Alternate Credentials

    Microsoft gave notice last week that it's going to drop Alternate Credentials support for authenticating users of its Azure DevOps Services.

  • Microsoft Endpoint Configuration Manager Update 1910 Released

    Microsoft announced last week that it is starting to deliver Update 1910 for Microsoft Endpoint Configuration Manager users.

comments powered by Disqus

Office 365 Watch

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.