The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Microsoft Corp., consolidated income statement (quarterly data)
Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.
Microsoft Corp.’s revenue decreased from Q2 2020 to Q3 2020 but then increased from Q3 2020 to Q4 2020 exceeding Q2 2020 level.
The net result for the period of deducting operating expenses from operating revenues.
Microsoft Corp.’s operating income decreased from Q2 2020 to Q3 2020 but then slightly increased from Q3 2020 to Q4 2020.
Income before income taxes
Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.
Microsoft Corp.’s income before income taxes decreased from Q2 2020 to Q3 2020 but then slightly increased from Q3 2020 to Q4 2020.
Net income (loss)
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
Microsoft Corp.’s net income (loss) decreased from Q2 2020 to Q3 2020 but then increased from Q3 2020 to Q4 2020 not reaching Q2 2020 level.