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 Resumes Rerelease of Windows 10 Version 1809

    Microsoft on Wednesday once more resumed its general rollout of the Windows 10 version 1809 upgrade, also known as the "October 2018 Update."

  • Microsoft Ups Its Windows 10 App Compatibility Assurances

    Microsoft gave assurances this week that organizations adopting Windows 10 likely won't face application compatibility issues.

  • SharePoint Online Users To Get 'Modern' UI Push in April

    Microsoft plans to alter some of the tenant-level blocking capabilities that may have been set up by organizations and deliver its so-called "modern" user interface (UI) to Lists and Libraries for SharePoint Online users, starting in April.

  • How To Use PowerShell Splatting

    Despite its weird name, splatting can be a really handy technique if you create a lot of PowerShell scripts.

comments powered by Disqus
Most   Popular

Office 365 Watch

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.