使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Operator
Operator
Welcome to Microsoft's fiscal year 2012 third-quarter earnings conference call.
歡迎參加微軟 2012 財年第三季度財報電話會議。
All lines have been placed on a listen-only mode until the question-and-answer session.
在問答環節之前,所有線路都處於只聽模式。
Today's call is being recorded.
今天的電話正在錄音。
If anyone has any objections, you may disconnect at this time.
如果有人有任何異議,您可以此時斷開連接。
I would now like to turn the call over to Mr.
我現在想把電話轉給先生。
Bill Koefoed, General Manager of Investor Relations.
Bill Koefoed,投資者關係總經理。
Bill, you may begin.
比爾,你可以開始了。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Thank you, Sharon; and thank you, everyone, for joining us this afternoon.
謝謝你,莎倫;謝謝大家今天下午加入我們。
As usual, with me today are Peter Klein, Chief Financial Officer; Frank Brod, Chief Accounting Officer; and John Seethoff, Deputy General Counsel.
像往常一樣,今天和我在一起的是首席財務官 Peter Klein; Frank Brod,首席會計官;和副總法律顧問 John Seethoff。
Our financial summary slide deck is on our website, Microsoft.com/investor and is intended to follow our prepared remarks and provide the reconciliation of differences between and non-GAAP financial measures.
我們的財務摘要幻燈片位於我們的網站 Microsoft.com/investor 上,旨在遵循我們準備好的評論並提供與非 GAAP 財務指標之間差異的對賬。
As a reminder we will post today's prepared remarks to our website immediately following the call until the complete transcript is available.
提醒一下,我們將在通話後立即將今天準備好的評論發佈到我們的網站,直到獲得完整的成績單。
Note that all growth comparisons we make on the call today will relate to the corresponding period of last year unless we specify otherwise.
請注意,除非我們另有說明,否則我們今天在電話會議上所做的所有增長比較都將與去年同期有關。
Today's call is being webcast live and recorded.
今天的電話正在網絡直播和錄製。
If you ask a question, it will be included in our live transmission, in the transcript and any future use of the recording.
如果您提出問題,它將被包含在我們的實時傳輸、成績單和錄音的任何未來使用中。
You can replay the call and view the transcript at the Microsoft Investor Relations website until April 19, 2013.
在 2013 年 4 月 19 日之前,您可以在 Microsoft 投資者關係網站上重播電話並查看記錄。
During this call we will be making forward-looking statements which are predictions, projections or other statements about future events.
在這次電話會議中,我們將做出前瞻性陳述,這些陳述是關於未來事件的預測、預測或其他陳述。
These statements are based on current expectations and assumptions that are subject to risks and uncertainties.
這些陳述基於當前的預期和假設,這些預期和假設受到風險和不確定性的影響。
Actual results could materially differ because of factors discussed in today's earnings press release, in comments made during this conference call and in the risks factors section of our form 10-K, forms 10-Q and other reports and filings with the Securities and Exchange Commission.
由於今天的收益新聞稿、本次電話會議期間的評論以及我們的 10-K 表格、10-Q 表格以及其他報告和提交給美國證券交易委員會的文件的風險因素部分中討論的因素,實際結果可能存在重大差異.
We do not undertake any duty to update any forward-looking statement.
我們不承擔更新任何前瞻性陳述的義務。
Okay, and with that I will turn the call over to Peter.
好的,然後我將把電話轉給彼得。
Peter Klein - CFO
Peter Klein - CFO
Thanks, Bill, and thanks, everyone, for joining us.
謝謝比爾,也謝謝大家加入我們。
I am pleased with our performance, as we delivered another quarter of solid financial results.
我對我們的表現感到滿意,因為我們又交付了一個季度穩健的財務業績。
Our robust portfolio of enterprise products and services drove revenue growth of 6% to a third-quarter record $17.4 billion.
我們強大的企業產品和服務組合推動收入增長 6%,達到第三季度創紀錄的 174 億美元。
Combined with our ongoing operating expense discipline, even as we prepared for one of our biggest launch years, we delivered operating income growth of 12%.
結合我們持續的運營費用紀律,即使我們為最大的發布年份之一做準備,我們的營業收入增長了 12%。
Let me provide more color on the Business.
讓我提供更多關於業務的顏色。
Our business desktop offerings remain a top priority for CIOs.
我們的商務桌面產品仍然是 CIO 的首要任務。
This quarter, businesses continue to refresh their hardware, and as a result we saw healthy growth in business PCs around the world.
本季度,企業繼續更新他們的硬件,因此我們看到了全球商用 PC 的健康增長。
As they purchased new PCs, businesses are also deploying Windows 7 and Office 2010 to increase productivity and manageability, while reducing their total cost of ownership.
在購買新 PC 時,企業也在部署 Windows 7 和 Office 2010,以提高生產力和可管理性,同時降低總擁有成本。
Today, approximately 40% of enterprise desktops worldwide are on Windows 7.
如今,全球大約 40% 的企業桌面使用的是 Windows 7。
And we see continued momentum as the remaining desktops upgrade from Windows XP over the next two years.
我們看到,隨著剩餘桌面在未來兩年內從 Windows XP 升級,勢頭將繼續保持。
As CIOs look to address the needs of a more social and mobile workforce, our productivity services, such as Office 365, have become an important solution.
隨著首席信息官希望滿足更多社交和移動員工的需求,我們的生產力服務(例如 Office 365)已成為重要的解決方案。
Our communication and collaboration offerings, such as Exchange, SharePoint and Lync, all grew revenue double digits and are well-positioned in this growing market.
我們的交流和協作產品(例如 Exchange、SharePoint 和 Lync)均實現了兩位數的收入增長,並且在這個不斷增長的市場中處於有利地位。
On the infrastructure side, the Server and Tools business delivered double-digit revenue growth with SQL Server leading the way.
在基礎架構方面,服務器和工具業務實現了兩位數的收入增長,其中 SQL Server 處於領先地位。
We've now launched System Center 2012 and SQL Server 2012.
我們現在推出了 System Center 2012 和 SQL Server 2012。
And the new versions of Windows Server and Visual Studio are on the horizon.
新版本的 Windows Server 和 Visual Studio 即將問世。
Our product road map and vision are driving new customer win and strong enterprise agreement renewals.
我們的產品路線圖和願景正在推動贏得新客戶並續簽強有力的企業協議。
We are confident that we are uniquely positioned to address the needs of CIOs as they strive to efficiently manage private and public clouds.
我們有信心,在 CIO 努力有效管理私有云和公共雲時,我們具有獨特的優勢來滿足他們的需求。
Establishing a vibrant Windows Phone ecosystem is a priority for us and we are working with our partners, including Nokia, to enable more features, markets and devices.
建立一個充滿活力的 Windows Phone 生態系統是我們的首要任務,我們正在與包括諾基亞在內的合作夥伴合作,以實現更多功能、市場和設備。
We are pleased with our Nokia partnership and the pace of innovation across devices, including the Lumia 900, which recently launched on AT&T's 4G LTE network.
我們對與諾基亞的合作以及跨設備的創新步伐感到滿意,包括最近在 AT&T 的 4G LTE 網絡上推出的 Lumia 900。
In Gaming and Entertainment, while industry consoles sales were softer than our expectations, we continue to maintain our share leadership position.
在遊戲和娛樂方面,雖然工業遊戲機的銷售低於我們的預期,但我們繼續保持我們的份額領先地位。
With Xbox Live, we are adding more content and partners as we expand the entertainment experience and build on our leading position in the living room.
借助 Xbox Live,隨著我們擴展娛樂體驗並鞏固我們在客廳的領先地位,我們正在添加更多內容和合作夥伴。
And in Search, we are focused on addressing RPS and operating performance.
在搜索領域,我們專注於解決 RPS 和運營績效問題。
We are seeing our hard work pay off with year-over-year improvements in both areas.
我們看到我們的辛勤工作得到了回報,這兩個領域的年復一年改進。
In summary, solid revenue growth and our ongoing commitment to fiscal discipline delivered strong financial results.
總之,穩健的收入增長和我們對財政紀律的持續承諾帶來了強勁的財務業績。
We are enthusiastic about the market reception to our products and services, as we continue to execute well heading into our launch wave.
我們對我們的產品和服務的市場接受度充滿熱情,因為我們將繼續良好地執行我們的發布浪潮。
With that, I'm going to hand it back to Bill to provide more details on this quarter's results.
有了這個,我將把它交還給比爾,以提供有關本季度業績的更多細節。
Then I will come back and provide some thoughts on our outlook for our fourth quarter and the next fiscal year.
然後我會回來就我們對第四季度和下一財年的展望提供一些想法。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Thanks, Peter.
謝謝,彼得。
First, I am going to review our overall results and then I will move on to the details by business segment.
首先,我將回顧我們的整體結果,然後我將按業務部門討論細節。
Revenue for the quarter was $17.4 billion, up [6%] (corrected by company after the call) or roughly $1 billion.
本季度的收入為 174 億美元,增長 [6%](在電話會議後由公司更正)或大約 10 億美元。
Operating income was up 12% to $6.4 billion.
營業收入增長 12% 至 64 億美元。
Cash flow from operations was a record $9.6 billion, and earnings per share was $0.60.
運營現金流達到創紀錄的 96 億美元,每股收益為 0.60 美元。
Remember, in Q3 last year, we had a $461 million or $0.05 per share benefit related to a partial tax settlement with the IRS, and if you exclude that, EPS grew 7% for the quarter.
請記住,在去年第三季度,我們與美國國稅局的部分稅收結算相關的收益為 4.61 億美元或每股 0.05 美元,如果將其排除在外,則該季度每股收益增長了 7%。
Foreign exchange did not materially impact our net income this quarter.
外匯並沒有對我們本季度的淨收入產生重大影響。
From a geographic perspective, developed markets remained healthy and we saw strong double-digit growth in emerging markets.
從地域角度來看,發達市場保持健康,新興市場實現兩位數的強勁增長。
Businesses continue to make long-term investments in the Microsoft platform, and as a result, multi-year licensing as a percentage of our total revenue grew to approximately 40%.
企業繼續對 Microsoft 平台進行長期投資,因此,多年期許可占我們總收入的百分比增長到大約 40%。
This quarter, we saw strong enterprise agreement growth in both new business and renewals.
本季度,我們在新業務和續訂方面看到了強勁的企業協議增長。
At the end of the quarter, unearned revenue was $15.2 billion, up 17%, and our contracted-not-billed balance was over $19 billion.
在本季度末,未實現收入為 152 億美元,增長 17%,我們的合同未開票餘額超過 190 億美元。
Moving on to the PC market, we estimate the worldwide PC market grew 2% to 4% this quarter.
轉向個人電腦市場,我們估計本季度全球個人電腦市場增長 2% 至 4%。
Business PCs grew 8% as businesses continue to upgrade their hardware and software to Windows 7.
隨著企業繼續將硬件和軟件升級到 Windows 7,商用 PC 增長了 8%。
When excluding netbooks, consumer PCs grew 6%.
如果不包括上網本,消費類 PC 增長了 6%。
We are pleased with the early demand for Ultrabooks as they reinvigorate personal computing with innovative design, high-performance and enhanced battery life.
我們對超極本的早期需求感到高興,因為它們通過創新的設計、高性能和更長的電池壽命重振了個人計算。
Now, I'll move on to the results for the Windows and Windows Live division where revenue was up 4%.
現在,我將繼續討論收入增長 4% 的 Windows 和 Windows Live 部門的結果。
As in past quarters, you will find the OEM revenue bridge in our earnings slide deck.
與過去幾個季度一樣,您會在我們的收益幻燈片中找到 OEM 收入的橋樑。
Overall, Windows revenue slightly outgrew the underlying PC market due to the strength of the business Refresh and Attach games in several geographic regions.
總體而言,由於多個地理區域的刷新和附加遊戲業務的實力,Windows 收入的增長略高於基礎 PC 市場。
In late February we made the Windows 8 consumer preview available.
2 月下旬,我們提供了 Windows 8 消費者預覽版。
It is important to note that the development of Windows 8 on both Intel and ARM is proceeding on our schedule.
值得注意的是,基於英特爾和 ARM 的 Windows 8 開發正在按我們的計劃進行。
Now I'll move on to the Microsoft Business division where revenue grew 9%.
現在我將轉到收入增長 9% 的 Microsoft 業務部門。
Consumer revenue increased 2% while Business Transactional revenue grew 5%, again outperforming our historical trends.
消費者收入增長 2%,而商業交易收入增長 5%,再次超過我們的歷史趨勢。
Multi-year licensing revenue grew 13% as customers continued their commitment to our productivity services.
隨著客戶繼續致力於我們的生產力服務,多年許可收入增長了 13%。
As businesses embrace social enterprise scenarios, they are turning to the combined power of Exchange, SharePoint and Lync to enable their presence, collaboration and communication needs.
隨著企業採用社會企業方案,他們正在求助於 Exchange、SharePoint 和 Lync 的組合功能來滿足他們的存在、協作和通信需求。
This quarter, Exchange and SharePoint both grew double digits, while Lync revenue growth accelerated to over 35%.
本季度,Exchange 和 SharePoint 均實現兩位數增長,而 Lync 收入增長加速至 35% 以上。
During the quarter we launched the technical preview of the next version of Office, code named Office 15, with public beta coming later this summer.
在本季度,我們推出了 Office 下一版本的技術預覽版,代號為 Office 15,公測版將於今年夏天晚些時候推出。
Our Dynamics business continued this momentum and revenue grew double digits.
我們的動態業務延續了這一勢頭,收入增長了兩位數。
Dynamics CRM revenue grew over 30% with more than 2.25 million users, and 33,000 customers who leveraged Dynamics CRM every day.
Dynamics CRM 收入增長超過 30%,用戶超過 225 萬,每天有 33,000 名客戶使用 Dynamics CRM。
Now, let's move to Server and Tools which posted another solid quarter with 14% revenue growth and over 20% bookings growth.
現在,讓我們轉向服務器和工具,它發布了又一個穩健的季度,收入增長 14%,預訂增長超過 20%。
Transactional revenue grew low single digits, roughly in line with the underlying server hardware market growth.
交易收入增長低個位數,大致與底層服務器硬件市場增長一致。
Multi-year licensing revenue was up high teens and enterprise services once again grew more than 20%.
多年許可收入增長了十幾歲,企業服務再次增長了 20% 以上。
Our growth and market success this quarter demonstrates that our customers really value our unique ability to deliver a solution which spans the private and public cloud.
我們本季度的增長和市場成功表明,我們的客戶真正重視我們提供跨越私有云和公共雲的解決方案的獨特能力。
In the private cloud, Windows Server Premium revenue grew high teens and Systems Center grew more than 20%.
在私有云中,Windows Server Premium 收入增長了十幾歲,Systems Center 增長了 20% 以上。
We've launched the beta version of Windows Server 2012 and announced the general availability of Systems Center 2012, which will help customers progress beyond virtualization to build efficient and secure hybrid clouds.
我們已經發布了 Windows Server 2012 的測試版,並宣布了 Systems Center 2012 的全面可用性,這將幫助客戶超越虛擬化,構建高效和安全的混合雲。
In the public cloud, we recently announced strategic partnerships with leading service providers Accenture and Hitachi to offer enterprise-ready cloud solutions on our Windows Azure platform to accelerate application deployment and migration.
在公共雲方面,我們最近宣布與領先的服務提供商埃森哲和日立建立戰略合作夥伴關係,在我們的 Windows Azure 平台上提供企業就緒雲解決方案,以加速應用程序部署和遷移。
We are the only Company which can deliver a common identity, virtualization, management and development platform to our customers across both private and public clouds.
我們是唯一一家能夠跨私有云和公共雲為客戶提供通用身份、虛擬化、管理和開發平台的公司。
In our data platform business, SQL Server revenue grew high teens while SQL Premium revenue grew more than 30%, as customers increasingly selected the Premium edition to power their business intelligence and mission-critical workload needs.
在我們的數據平台業務中,SQL Server 收入增長了十幾歲,而 SQL Premium 收入增長了 30% 以上,因為客戶越來越多地選擇高級版來滿足他們的商業智能和關鍵任務工作負載需求。
In early April we announced general availability of SQL Server 2012, which now enables businesses to scale on-demand and create flexible, hybrid deployment.
4 月初,我們宣布全面推出 SQL Server 2012,它現在使企業能夠按需擴展並創建靈活的混合部署。
Hundreds of global, industry-leading customers, such as Mitsui, Volvo, Revlon and LG Chemical, have already deployed SQL Server 2012 for production use to leverage its enhanced performance, reliability and high availability features.
數百家全球行業領先的客戶,例如三井、沃爾沃、露華濃和 LG 化學,已經部署了 SQL Server 2012 用於生產,以利用其增強的性能、可靠性和高可用性特性。
We also recently announced the second preview of Hadu-based services with customers such as Webtrends, using it to glean simple, actionable insights from complex data sets hosted in the cloud.
我們最近還向 Webtrends 等客戶宣布了基於 Hadu 的服務的第二個預覽版,使用它從託管在雲中的複雜數據集中收集簡單、可操作的見解。
Hadoop integration along with the powerful, analytic capabilities in SQL Server 2012, position us well to capture the full potential of big data growth.
Hadoop 集成以及 SQL Server 2012 中強大的分析功能使我們能夠很好地捕捉大數據增長的全部潛力。
With major releases in each of our server product offerings, we continue to strengthen our enterprise portfolio and empower businesses to be both more agile and efficient.
隨著我們每個服務器產品的主要版本發布,我們將繼續加強我們的企業產品組合,並使企業變得更加敏捷和高效。
Moving on to the Online Services division, revenue grew 6%, and operating performance improved by $300 million.
轉到在線服務部門,收入增長了 6%,運營業績提高了 3 億美元。
This quarter, Online Advertising revenue was up 9%, driven by volume and rate improvements in our Search business.
本季度,在線廣告收入增長了 9%,這得益於我們搜索業務量和費率的提高。
In the Entertainment and Devices division, revenue declined 16%, reflecting the soft, gaming console market.
在娛樂和設備部門,收入下降了 16%,反映出遊戲機市場疲軟。
Xbox maintained its share leadership in the US this quarter, and we continue to expand the content available in Xbox Live with the release of three, new, major entertainment applications.
Xbox 在本季度保持了其在美國的份額領先地位,我們通過發布三個新的主要娛樂應用程序繼續擴展 Xbox Live 中的可用內容。
Comcast Xfinity TV, HBO GO, and MLB TV, all with Kinect integration.
Comcast Xfinity TV、HBO GO 和 MLB TV,都集成了 Kinect。
We are working to bring Windows Phone to more people.
我們正在努力將 Windows Phone 帶給更多人。
Our progress can be seen with the April launch of 4G LTE Phone through AT&T, our launch in China with multiple OEMs, and the enabling of sub-$200 phones with more silicon support.
我們的進展可以從四月份通過 AT&T 推出 4G LTE 手機、我們在中國與多家 OEM 推出以及支持更多芯片支持的低於 200 美元的手機中看出。
With this work, and with the building enthusiasm around Windows Phones, we have seen the number of apps published in the marketplace increase by 50% over the past three months.
通過這項工作,以及圍繞 Windows Phone 建立的熱情,我們看到在過去三個月中,市場上發布的應用程序數量增加了 50%。
Turning to Skype, we continue to be pleased with both the pace of the integration and the rapid growth of the business.
談到 Skype,我們繼續對整合的速度和業務的快速增長感到滿意。
This quarter, Skype users made over 100 billion minutes of calls over the Skype network, an increase of 40% from the prior year.
本季度,Skype 用戶通過 Skype 網絡撥打的電話超過 1000 億分鐘,比上年增長 40%。
I will now cover the remainder of the income statement.
我現在將介紹損益表的其餘部分。
Cost of goods sold increased 1%, reflecting changes in the mix of products and services sold.
商品銷售成本上升 1%,反映了所售產品和服務組合的變化。
Operating expenses were $7.1 billion, an increase of 4%, mainly due to higher people costs.
營業費用為 71 億美元,增長 4%,主要是由於人員成本增加。
Operating income increased 12% to $6.4 billion.
營業收入增長 12% 至 64 億美元。
And this quarter, we returned $2.7 billion to shareholders in buybacks and dividends.
本季度,我們以回購和股息的形式向股東返還了 27 億美元。
To summarize, we saw a strong enterprise uptake for our Server and Office products and continued business demand for PCs leading to healthy top line growth.
總而言之,我們看到企業對我們的服務器和 Office 產品的強勁吸收以及對 PC 的持續業務需求導致健康的收入增長。
Along with our revenue growth, we were able to drive margin expansion with our strong focus on cost management.
隨著我們的收入增長,我們能夠通過我們對成本管理的高度關注來推動利潤增長。
And with that, I will hand it back to Peter who is going to discuss our business outlook.
有了這個,我會把它交還給彼得,他將討論我們的業務前景。
Peter Klein - CFO
Peter Klein - CFO
Thanks, Bill.
謝謝,比爾。
For the remainder of the call, I will discuss our expectations for fourth quarter with some high-level themes as we begin to think about fiscal 2013.
在接下來的電話會議中,我將在我們開始考慮 2013 財年時討論我們對第四季度的預期以及一些高層次的主題。
Let me start with the fourth quarter.
讓我從第四節開始。
Within the PC market, we expect growth in business PCs to outpace consumer PCs, and growth in emerging markets to outpace developed markets.
在個人電腦市場,我們預計商用個人電腦的增長速度將超過消費個人電腦,新興市場的增長速度將超過發達市場。
In the Microsoft Business division, multi-year licensing revenue, which is approximately 60% of the division's total, should grow low double digits.
在微軟業務部門,佔該部門總收入約 60% 的多年許可收入應該會增長兩位數。
Transactional revenue, which is the remaining revenue in the division, should lag the overall PC market, reflecting a higher mix of PC shipments to emerging markets.
交易收入是該部門的剩餘收入,應該落後於整體 PC 市場,反映出新興市場的 PC 出貨量比例較高。
Within Server and Tools, approximately 30% of the division's revenue comes from Transactional Licensing, 50% from Multi-year Licensing, and 20% from Enterprise Services.
在服務器和工具中,該部門大約 30% 的收入來自交易許可,50% 來自多年許可,20% 來自企業服務。
We expect Transactional revenue to generally track with the Server hardware market, and Multi-year Licensing and Enterprise Services revenue to both grow high teens.
我們預計交易收入將大致與服務器硬件市場保持一致,而多年許可和企業服務收入都將增長到十幾歲。
In the Online Services division, we will continue to focus on RPS improvements as well as operating efficiencies.
在在線服務部門,我們將繼續專注於 RPS 改進以及運營效率。
For our Entertainment and Devices division, we expect revenue to grow low double digits.
對於我們的娛樂和設備部門,我們預計收入將增長兩位數。
We expect COGS to grow 8% to 12% for the fourth quarter.
我們預計第四季度的銷貨成本將增長 8% 至 12%。
As has been the case in prior quarters, the mix of revenues will continue to impact this number.
與前幾個季度的情況一樣,收入組合將繼續影響這一數字。
We are revising our operating expense guidance downward, to $28.3 billion to $28.7 billion for fiscal 2012.
我們正在向下修訂我們的運營費用指引,將 2012 財年的運營費用預期下調至 283 億美元至 287 億美元。
We expect our effective tax rate to be 19% to 21% for the fourth quarter, and we continue to expect capital expenditures for the full fiscal year to be about $2.5 billion.
我們預計第四季度的有效稅率為 19% 至 21%,我們繼續預計整個財年的資本支出約為 25 億美元。
Unearned revenue will roughly follow historical, sequential growth patterns.
未實現收入將大致遵循歷史的連續增長模式。
Now I would like to spend a few minutes looking ahead to fiscal 2013, which will include an unprecedented refresh of our major products.
現在我想花幾分鐘時間展望一下 2013 財年,這將包括我們主要產品的前所未有的更新。
With Windows 8 and its availability on both x86 and ARM, we believe the ecosystem will capitalize on the new range of capabilities and scenarios Windows 8 enables.
借助 Windows 8 及其在 x86 和 ARM 上的可用性,我們相信生態系統將利用 Windows 8 支持的一系列新功能和場景。
In the enterprise, the addition of Windows Server 2012, combined with the momentum of SQL Server and System Center, position us to take share as businesses increasingly look to cloud-optimize their IT infrastructure.
在企業中,Windows Server 2012 的加入,再加上 SQL Server 和 System Center 的發展勢頭,使我們能夠在企業越來越多地尋求雲優化其 IT 基礎架構的情況下佔有一席之地。
And in productivity, we believe Office 15 will help people work, collaborate and communicate smarter and faster than before.
在生產力方面,我們相信 Office 15 將幫助人們比以前更智能、更快速地工作、協作和交流。
Driving growth in the Office business.
推動辦公業務增長。
Consumers will see ongoing innovations in Xbox, Skype, Windows Phone and Bing.
消費者將看到 Xbox、Skype、Windows Phone 和 Bing 的持續創新。
As you can see, there is a lot to look forward to next year.
如您所見,明年有很多值得期待的事情。
We expect fiscal 2013 operating expenses to be $30.3 billion to $30.9 billion, which represents growth of 6% to 8% from the midpoint of our updated, fiscal 2012 guidance, as we continue to prioritize our spending and manage our expenses against the backdrop of a big product release year.
我們預計 2013 財年的運營費用為 303 億美元至 309 億美元,較我們更新的 2012 財年指引的中點增長 6% 至 8%,因為我們將繼續在大產品發布年。
In closing, our product portfolio is stronger than it has ever been and customer satisfaction with our products and services is high.
最後,我們的產品組合比以往任何時候都更強大,客戶對我們的產品和服務的滿意度很高。
And with our latest wave of innovation, paired with ongoing operating expense discipline, we are well-positioned to continue delivering value to shareholders.
憑藉我們最新的創新浪潮,再加上持續的運營費用紀律,我們處於有利地位,可以繼續為股東創造價值。
And with that, I will turn the call over to Bill and we'll take some questions.
有了這個,我會把電話轉給比爾,我們會回答一些問題。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Thanks, Peter.
謝謝,彼得。
We want to get to questions from as many of you as possible, so please stick to just one question and avoid long or multi-part questions.
我們希望盡可能多地回答你們的問題,所以請堅持一個問題,避免冗長或多部分的問題。
Operator, can you please go ahead and repeat your instructions?
接線員,您可以繼續重複您的指示嗎?
Operator
Operator
Thank you.
謝謝你。
(Operator Instructions) One moment for the first question.
(操作員說明)第一個問題的時間。
Adam Holt, Morgan Stanley.
亞當霍爾特,摩根士丹利。
Adam Holt - Analyst
Adam Holt - Analyst
Thank you, nice quarter, guys.
謝謝你們,很好的季度,伙計們。
My question is about the enterprise upgrade cycle.
我的問題是關於企業升級週期。
The clock is ticking on XP obviously, but you are only at 40% of the enterprises upgraded.
顯然,時間在 XP 上滴答作響,但你只升級了 40% 的企業。
Where do you think that number goes?
你認為這個數字去哪兒了?
Do you think it's front-end loaded towards calendar '12 versus calendar '13?
您認為它是面向日曆 '12 還是日曆 '13 加載的前端?
And how do you think about how that impacts the model, given some recovery with DLAs?
考慮到 DLA 的一些恢復,您如何看待這對模型的影響?
Thanks.
謝謝。
Peter Klein - CFO
Peter Klein - CFO
Well, the only thing I can say, Adam, is obviously it's high on the prior list for CIOs to upgrade their business desktops, and we've seen that.
好吧,Adam,我唯一能說的顯然是 CIO 升級其業務台式機在之前的清單中排名靠前,我們已經看到了這一點。
We've seen that in deployments, as we talked about, and it remains a high priority.
正如我們所討論的,我們已經在部署中看到了這一點,它仍然是一個高優先級。
Exactly how that will play out over the next couple of years, it's hard to say.
很難說未來幾年這將如何發揮作用。
The Memorandum has been great so far.
到目前為止,備忘錄一直很棒。
It remains a top priority, so we see that momentum continuing, really, over the next couple of years.
它仍然是重中之重,因此我們看到這種勢頭在接下來的幾年中確實會持續下去。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Heather Bellini, Goldman Sachs.
希瑟·貝里尼,高盛。
Heather Bellini - Analyst
Heather Bellini - Analyst
Thank you.
謝謝你。
I was just wondering, Peter, a few years ago, and you might not have been CFO at the time, you guys had talked about online and what your goals were five years out.
我只是想知道,彼得,幾年前,你當時可能還不是首席財務官,你們已經在網上談論過你們五年後的目標是什麼。
And, talking about 20% organic market share and that could get you to breakeven.
而且,談論 20% 的有機市場份額,這可以讓你實現盈虧平衡。
I mean, given what we are seeing in terms of RPS, although you are doing a very good job on the OpEx side, how would you say you're thinking about that today?
我的意思是,考慮到我們在 RPS 方面看到的情況,儘管您在運營支出方面做得非常好,但您認為您今天對此有何看法?
Peter Klein - CFO
Peter Klein - CFO
Well, thanks, Heather.
好吧,謝謝,希瑟。
The same basic dynamics continue, right?
同樣的基本動力還在繼續,對吧?
We need to do two things.
我們需要做兩件事。
We need to grow our share, we need to grow our RPS, so really, improve our monetization.
我們需要增加我們的份額,我們需要增加我們的 RPS,所以說真的,提高我們的盈利能力。
At the same time as managing the operating performance, which we've been doing.
在管理運營績效的同時,我們一直在這樣做。
So, the same characteristics apply.
因此,同樣的特徵也適用。
We are making progress on both counts, as Bill indicated, we saw gains in both volume and rate, and we need to continue to do that, sort of monotonically, quarter-after-quarter and year-after-year.
正如比爾指出的那樣,我們在這兩個方面都取得了進展,我們看到了數量和速度的增長,我們需要繼續這樣做,有點單調,一個季度一個季度和一年一年。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Yes, I would just add on to that, and I've been reminding some investors to go back and watch the FAM presentation that Qi Lu gave back in September.
是的,我想補充一下,我一直在提醒一些投資者回去觀看齊魯在 9 月回饋的 FAM 演示文稿。
We do view our search asset as a pretty strategic asset for the Company.
我們確實將我們的搜索資產視為公司的一項戰略資產。
The capabilities that it offers are leveraged across our -- we think can be leveraged across our whole product set, so I do think our strategy has evolved from whatever conversation you had a couple three years ago, because we see the opportunity to leverage the asset being even more powerful than maybe we did at that point.
它提供的功能被我們利用——我們認為可以在我們的整個產品集中利用,所以我認為我們的戰略已經從你三年前的任何談話中演變而來,因為我們看到了利用資產的機會比我們當時更強大。
But, a good reminder if people haven't looked at that video, you can go back and look at it on the site.
但是,如果人們還沒有看過該視頻,請提醒您,您可以返回並在網站上查看它。
Operator, next question please?
接線員,請問下一個問題?
Operator
Operator
Rick Sherlund, Nomura.
Rick Sherlund,野村。
Rick Sherlund - Analyst
Rick Sherlund - Analyst
Yes, thank you.
是的,謝謝。
On EDD, just sort of curious whether there is anticipation.
在 EDD 上,只是有點好奇是否有預期。
We're not really looking for much at E3 this year.
今年我們對 E3 的期待並不高。
I think new console, people are thinking is maybe next year.
我認為新的控制台,人們認為可能是明年。
There is Halo 4 coming.
光環 4 即將到來。
Just how you thinking about with more and more gaming going to mobile, what do you think the outlook is beyond next quarter for EDD?
隨著越來越多的遊戲轉向移動設備,您如何看待,您認為 EDD 下一季度的前景如何?
Do we need a new console cycle to create growth in that segment?
我們是否需要一個新的遊戲機週期來創造該細分市場的增長?
Peter Klein - CFO
Peter Klein - CFO
Thanks, Rick.
謝謝,瑞克。
You know we feel really good about both our market position and our strategy.
你知道我們對我們的市場地位和我們的戰略感覺非常好。
If you think about what we've done over the last couple of years, we've really staked out a unique value proposition and a unique strategy when it comes to not just the gaming console, but also the UI technology with Kinect.
如果您考慮一下我們在過去幾年中所做的事情,我們確實已經確定了一個獨特的價值主張和獨特的戰略,不僅涉及遊戲機,還涉及 Kinect 的 UI 技術。
And importantly, Xbox Live and all the entertainment content that comes with that, which we view as a persistent long-term revenue stream, both from a subscriber perspective, as well as a transactional perspective.
重要的是,Xbox Live 以及隨之而來的所有娛樂內容,無論從訂閱者的角度還是交易的角度來看,我們都將其視為持續的長期收入來源。
And so, we feel great about our leadership position.
因此,我們對自己的領導地位感到非常滿意。
We've been the number one console for the last 15 months or so.
在過去 15 個月左右的時間裡,我們一直是排名第一的遊戲機。
We feel great about our unique value proposition and the growing business we have with both Kinect and Live, and we think that's really persistent.
我們對我們獨特的價值主張以及我們在 Kinect 和 Live 方面不斷增長的業務感到非常滿意,我們認為這真的很持久。
If you look at the engagement that our subscribers have, the amount of time they spend doing entertainment, as opposed to gaming, is increasing all the time.
如果您查看我們的訂戶的參與度,他們花在娛樂而非遊戲上的時間一直在增加。
And so, I think the strategy and the value proposition there plays out very well over the next several years.
因此,我認為那裡的戰略和價值主張在未來幾年內發揮得非常好。
Rick Sherlund - Analyst
Rick Sherlund - Analyst
Will Skype be a big benefit to that division going forward?
Skype 會對該部門的未來發展產生重大影響嗎?
Peter Klein - CFO
Peter Klein - CFO
Skype will be a big benefit across the Company as we've talked about how it plays across all of our businesses.
Skype 將為整個公司帶來巨大的好處,因為我們已經討論了它如何在我們所有的業務中發揮作用。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Walter Pritchard, Citi.
花旗銀行的沃爾特·普里查德。
Walter Pritchard - Analyst
Walter Pritchard - Analyst
Hi, thanks.
你好謝謝。
Peter, you guys had a much better enterprise performance than I think most of the peers that we've seen report that are enterprise-exposed, IBM, et cetera.
彼得,你們的企業績效比我認為我們看到的大多數企業暴露的同行、IBM 等報告的要好得多。
And I'm wondering if you could help us out with understanding where you saw strength across your business there?
我想知道您是否可以幫助我們了解您在哪裡看到了您的業務優勢?
Was it more small business, medium business, enterprise?
是小型企業、中型企業還是企業?
Was there any trends there that might help us understand why you're outperforming some of your peers?
那裡是否有任何趨勢可以幫助我們理解為什麼你的表現優於一些同行?
Peter Klein - CFO
Peter Klein - CFO
Thanks, Walter.
謝謝,沃爾特。
Yes, it was all segments.
是的,它是所有部分。
I would highlight the enterprise.
我會強調企業。
And, it's really broad-based.
而且,它的基礎非常廣泛。
Businesses are investing in data centers.
企業正在投資數據中心。
They're investing in their desktops, because they see technology as a way to really both cut costs and improve their strategic positioning.
他們正在對台式機進行投資,因為他們將技術視為一種既能真正降低成本又能改善其戰略定位的方法。
For a while, COI's had been saying Microsoft is a top priority.
一段時間以來,COI 一直在說微軟是重中之重。
And we're really, really starting to see that, both on the infrastructure side and the desktop side.
我們真的,真的開始看到這一點,無論是在基礎設施方面還是桌面方面。
We feel great about our product lineup, particularly in Server and Tools.
我們對我們的產品陣容感覺很好,尤其是在服務器和工具方面。
If you think of what we've done with Systems Center and SQL Server, and the upcoming release of Windows Server 2012, we kind of have a unique value proposition for enterprises, which is all about the hybrid, private and public cloud, which nobody else really has.
如果您想到我們在 Systems Center 和 SQL Server 上所做的工作,以及即將發布的 Windows Server 2012,我們對企業有一個獨特的價值主張,那就是混合雲、私有云和公共雲,沒人否則真的有。
We've seen growth across both of those things.
我們已經看到了這兩方面的增長。
Similarly on the Business division side, we've broadened the Office business in several important ways over the last several years.
同樣在業務部門方面,我們在過去幾年中以多種重要方式擴展了 Office 業務。
One is in the experiences and workloads that people are getting in communications and collaboration, and that's been a huge growth driver.
一是人們在溝通和協作中獲得的經驗和工作量,這是一個巨大的增長動力。
And secondly, again, is cloud services and how that expands from helping people understand our road map from where they are today to how they get to the public cloud.
其次,再次是雲服務,以及它如何從幫助人們了解我們的路線圖(從他們今天所處的位置到他們如何進入公共雲)擴展。
I think those things taken together across the board have allowed us to take share and allowed us to grow both of those businesses, and you're really starting to see that take hold.
我認為這些東西全面整合在一起讓我們能夠分享並讓我們發展這兩個業務,你真的開始看到它站穩腳跟。
And we're really excited about the product lineup that's coming in the next six to nine months.
我們對未來六到九個月即將推出的產品陣容感到非常興奮。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
I would just add on to that, I think investors sometimes put companies in a box and say you are either in private cloud or you're in public cloud.
我想補充一點,我認為投資者有時會把公司放在一個盒子裡,說你要么在私有云中,要么在公共雲中。
And as Peter mentioned, we are in both.
正如彼得所說,我們都在。
I mean we have high growth rates in both.
我的意思是我們在這兩個方面都有很高的增長率。
And we are, as Peter said, really the only company that's got that breadth of offerings in the growth rate on both the private, the public, and then importantly, we've kind of coined this term of hybrid IT, where you can have a road map as you kind of want to use both to manage your IT infrastructure.
正如彼得所說,我們是唯一一家在私人和公共領域的增長率都提供如此廣泛產品的公司,而且重要的是,我們創造了混合 IT 這個術語,你可以在其中擁有一個路線圖,因為您希望同時使用這兩種方法來管理您的 IT 基礎架構。
So, yes, we feel really good about where we are in the share that we are taking in the market place for sure.
所以,是的,我們確實對我們在市場上的份額感到非常滿意。
Next question, operator.
下一個問題,接線員。
Operator
Operator
Brent Thill, UBS.
瑞銀的布倫特希爾。
Brent Thill - Analyst
Brent Thill - Analyst
Thanks.
謝謝。
You commented that you saw strong, multi-year licensing, and I was just curious if you could just talk about how the upcoming cycle is helping influence that?
您評論說您看到了強大的多年許可,我只是想知道您是否可以談談即將到來的周期如何幫助影響它?
And if I got this right, Bill, I think you mentioned new enterprise agreements, you also saw strength there.
如果我做對了,比爾,我想你提到了新的企業協議,你也看到了那裡的力量。
So, if you could just talk through the dynamics of what you are seeing on these multi-year deals?
那麼,如果你能談談你在這些多年交易中看到的動態呢?
Peter Klein - CFO
Peter Klein - CFO
Yes, the way that the product pipeline impacts our Multi-year Licensing business is, enterprises, when they invest in a multi-year licensing agreement, they're making a long-term investment in their platforms, in their infrastructure.
是的,產品管道影響我們多年期許可業務的方式是,企業在投資多年期許可協議時,是在對其平台和基礎設施進行長期投資。
And they are making a long-term investment in their vendors.
他們正在對供應商進行長期投資。
And so, it's important to really understand the road map.
因此,真正了解路線圖很重要。
And that's where the pipeline really helps, and that's really been, I think, a big driver so far.
這就是管道真正有幫助的地方,我認為,到目前為止,這確實是一個很大的驅動力。
And that applies not only to the workloads and the capabilities in the products themselves, but as Bill just mentioned, the private and public cloud road map, because people really are starting to think about long-term how do they make that transition from where they are today in their data centers to a public cloud world.
這不僅適用於產品本身的工作負載和功能,而且正如比爾剛才提到的,私有云和公共雲路線圖,因為人們真的開始考慮長期如何從他們的位置進行過渡今天,他們在他們的數據中心進入了一個公共雲世界。
So, having that road map and having that pipeline really impacts our current period Enterprise business, and I think that's what you saw, not only in Server and Tools, but also in the Business division, as well.
因此,擁有該路線圖並擁有該管道確實會影響我們當前時期的企業業務,我認為這就是您所看到的,不僅在服務器和工具中,而且在業務部門中也是如此。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Mark Moerdler, Sanford Bernstein.
馬克·莫德勒,桑福德·伯恩斯坦。
Mark Moerdler - Analyst
Mark Moerdler - Analyst
Thank you.
謝謝你。
So, we saw strong numbers on System Center growing well, as well as SQL Server, and yet we're just about to enter a product cycle.
因此,我們看到 System Center 以及 SQL Server 的強勁數據增長良好,但我們即將進入產品週期。
Normally, I guess, they would slow down a bit.
通常情況下,我猜,他們會放慢一點。
What do you think is the driver of why this has continued to accelerate into the cycle?
您認為這種情況持續加速進入周期的驅動因素是什麼?
Peter Klein - CFO
Peter Klein - CFO
I'll just go back to our continued vision, our continued road map, the capabilities that we're offering.
我將回到我們持續的願景,我們持續的路線圖,我們提供的能力。
It's a combination of the features and capabilities, particularly in System Center 2012 and SQL Server 2012.
它是特性和功能的組合,尤其是在 System Center 2012 和 SQL Server 2012 中。
SQL Server 2012 is an amazing value proposition when you think about its scalability, when you think about business intelligence and analytics, and when you think about the road map to the public cloud.
當您考慮 SQL Server 2012 的可擴展性、商業智能和分析以及公有云的路線圖時,SQL Server 2012 是一個驚人的價值主張。
People are understanding not only current features in the products, but they are looking towards the future road map.
人們不僅了解產品的當前功能,而且還在展望未來的路線圖。
And, I think that's what's really driving that.
而且,我認為這才是真正的驅動力。
Mark Moerdler - Analyst
Mark Moerdler - Analyst
Thanks.
謝謝。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Philip Winslow, Credit Suisse.
菲利普·溫斯洛,瑞士信貸。
Philip Winslow - Analyst
Philip Winslow - Analyst
Hi, thanks, guys, great quarter.
嗨,謝謝,伙計們,很棒的季度。
Just have another question on the Server and Tools division.
關於服務器和工具部門的另一個問題。
Obviously Intel is coming out with a new chip, Romley here, probably shipping the OEMs now, probably see it actually being delivered in servers late Q2, Q3 in the calendar.
很明顯,英特爾正在推出一款新芯片,Romley,現在可能會向 OEM 發貨,可能會看到它實際上在第二季度末、第三季度的服務器中交付。
How do you think these chip cycles actually are going to impact your business?
您認為這些芯片週期實際上將如何影響您的業務?
Thanks.
謝謝。
Peter Klein - CFO
Peter Klein - CFO
Super excited about it, but I think about the business more broadly obviously, customers making long-term investments in their road map.
對此非常興奮,但我顯然更廣泛地考慮了業務,客戶在他們的路線圖上進行了長期投資。
We love what they're doing.
我們喜歡他們正在做的事情。
We think that's an interesting thing, and to the extent the ecosystem technology evolves, that's always a good thing for how businesses are investing in their infrastructure.
我們認為這是一件有趣的事情,並且就生態系統技術的發展而言,這對於企業如何投資其基礎設施總是一件好事。
But, I wouldn't want to overstate it.
但是,我不想誇大其詞。
It's a much broader issue in terms of the long-term road map, but certainly, having advances in technology, whether it's in hardware or in the data center, is a great thing all up.
就長期路線圖而言,這是一個更廣泛的問題,但可以肯定的是,無論是硬件還是數據中心的技術進步,都是一件好事。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
John DiFucci, JPMorgan.
摩根大通的約翰·迪福奇。
John DiFucci - Analyst
John DiFucci - Analyst
Thank you.
謝謝你。
Peter and Bill, I think the Windows numbers were a little stale out there as far as consensus numbers.
彼得和比爾,我認為就共識數字而言,Windows 數字有點陳舊。
But even when you adjust for the more recent PC units shipments data and something in line with what you guys said, I think Gartner and IDC were at least in the neighborhood there.
但是,即使您根據最近的 PC 出貨量數據以及與你們所說的一致的東西進行調整,我認為 Gartner 和 IDC 至少在附近。
When you make those adjustments, the Windows business was even stronger than what we would've expected anyway.
當您進行這些調整時,Windows 業務甚至比我們預期的還要強大。
And I guess, I'm just trying to get a little more color on that or figure that out.
而且我想,我只是想在上面增加一點顏色或弄清楚。
I guess a question maybe on the OEM revenue bridge.
我想可能是關於 OEM 收入橋樑的問題。
You got plus 2% from Attach and inventory.
您從附加和庫存中獲得了 2% 的收益。
Bill, I think you said that business Refresh and Attach was strong in some regions.
比爾,我想你說過某些地區的業務 Refresh 和 Attach 很強大。
But I would think, anyway, that given that PC shipments are much stronger in emerging markets, even if some emerging markets were a little bit better than normal, you'd still wouldn't necessarily get an aggregate attached that would be stronger.
但我認為,無論如何,鑑於新興市場的 PC 出貨量要強勁得多,即使一些新興市場比正常市場好一點,你仍然不一定會得到一個更強勁的附加總量。
So, I guess the question is was there a meaningful move in inventory, OEM inventory, that helped a bit this quarter, because those numbers are stronger than I would have thought.
因此,我想問題是庫存(OEM 庫存)是否有有意義的變化,這在本季度有所幫助,因為這些數字比我想像的要強。
Peter Klein - CFO
Peter Klein - CFO
Thanks, John.
謝謝,約翰。
No, it's actually a couple of things, one, yes on emerging markets, but business PCs is what really drove the Windows business.
不,這實際上是幾件事,一個,是的,在新興市場上,但商用 PC 才是真正推動 Windows 業務發展的因素。
And so if you think about the Windows revenue growth being really on the high-end of our estimated PC shipment range, it's really a function of, one, business PCs really doing well relative to consumers.
因此,如果您認為 Windows 收入增長確實處於我們估計的 PC 出貨範圍的高端,這實際上是因為商用 PC 相對於消費者而言確實表現良好。
And again, that's consistent with the theme we've seen on businesses investing in their technology.
同樣,這與我們在企業投資技術時看到的主題一致。
And, in addition to that, we did see some Attach gain.
而且,除此之外,我們確實看到了一些附加增益。
And that's just reductions in piracy, kind of broadly, not in any one place.
這只是減少盜版,範圍很廣,而不是在任何地方。
That was a tailwind this quarter.
這是本季度的順風車。
As you know, sometimes that's not always a tailwind.
如您所知,有時這並不總是順風。
In general in the long-term, that tends to be on the uptick, but this quarter, that Attach in inventory gain is really partially attached.
總的來說,從長期來看,這往往會上升,但本季度,庫存收益的附加值實際上是部分附加的。
John DiFucci - Analyst
John DiFucci - Analyst
Thanks, Peter.
謝謝,彼得。
Peter Klein - CFO
Peter Klein - CFO
Thanks, John.
謝謝,約翰。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Kash Rangan, Merrill Lynch.
卡什蘭根,美林證券。
Kash Rangan - Analyst
Kash Rangan - Analyst
Hi, thank you, guys I don't have any questions.
嗨,謝謝各位,我沒有任何問題。
Thank you very much.
非常感謝。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Colin Gillis, BGC Financial.
BGC 金融公司的科林·吉利斯 (Colin Gillis)。
Colin Gillis - Analyst
Colin Gillis - Analyst
Great.
偉大的。
Thank you.
謝謝你。
Can you just update us on the changes and the refresh in the marketing group, where the priorities are for the spend and any major upcoming campaigns?
您能否向我們介紹營銷組的變化和更新、支出的優先事項以及即將到來的重大活動?
Peter Klein - CFO
Peter Klein - CFO
Yes.
是的。
The marketing organization continues on.
營銷組織繼續進行。
We are always making sort of tweaks and changes and making sure we are being as efficient and effective as possible in getting all the resources where we want them.
我們總是在做一些調整和改變,並確保我們盡可能高效和有效地將所有資源放在我們想要的地方。
If you think more broadly about our marketing focus as a Company, clearly heading into this launch wave of our major core products, like Windows, like Office, like Windows Server, you can imagine we're going to be focusing most of our marketing talent and most of our attention on those areas.
如果您更廣泛地考慮我們作為一家公司的營銷重點,清楚地進入我們主要核心產品的發布浪潮,例如 Windows、Office、Windows Server,您可以想像我們將專注於我們的大部分營銷人才我們的大部分注意力都集中在這些領域。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Brendan Barnicle, Pacific Crest Securities.
Brendan Barnicle,Pacific Crest 證券。
Brendan Barnicle - Analyst
Brendan Barnicle - Analyst
Thanks so much.
非常感謝。
Peter, should we assume that we're going to see the same Windows upgrade rights around Windows 8 that we've seen around prior releases?
Peter,我們是否應該假設我們將在 Windows 8 中看到與以前版本相同的 Windows 升級權利?
And therefore, should we be expecting to see some big swings in Windows revenue at some point in the middle of next year, or some point during next year, because of the deferrals like we've seen in the past?
因此,我們是否應該期望在明年年中的某個時候或明年的某個時候看到 Windows 收入出現大幅波動,因為我們過去看到過延期?
Peter Klein - CFO
Peter Klein - CFO
Thanks, Brendan.
謝謝,布倫丹。
Obviously we are super excited about the launch of Windows 8.
顯然,我們對 Windows 8 的推出感到非常興奮。
And we're heads down trying to get that released.
我們正在努力將其發布。
We haven't said anything -- well, not today, but we'll have more to talk about in terms of programs and promotions as we get closer to the launch date.
我們什麼都沒說——嗯,不是今天,但是隨著我們接近發布日期,我們將在計劃和促銷方面有更多的話題要討論。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Ed Maguire, CLSA.
埃德·馬奎爾,里昂證券。
Ed Maguire - Analyst
Ed Maguire - Analyst
Hi, good afternoon.
你好,下午好。
When you look through the pretty extensive product refreshes you have across the portfolio, are you thinking that there may be the possibility that customers may pause in any of your products?
當您瀏覽整個產品組合中相當廣泛的產品更新時,您是否認為客戶可能會暫停您的任何產品?
And as you look at seasonality, is there a likelihood that we might see a bit more pronounced seasonality leading up into some of the big launches?
當您查看季節性時,我們是否有可能在一些大型發布之前看到更明顯的季節性?
Peter Klein - CFO
Peter Klein - CFO
I think generally, particularly in the enterprise you don't really see a seasonality impact.
我認為一般來說,特別是在企業中,你並沒有真正看到季節性影響。
You think about how large enterprises plan their information technology spend.
您考慮大型企業如何計劃其信息技術支出。
They sort of have a long-term road map.
他們有一個長期的路線圖。
They are on it.
他們在上面。
They execute against it when they do.
當他們這樣做時,他們會反對它。
Obviously our long-term road map, as I said, impacts that.
顯然,正如我所說,我們的長期路線圖會影響到這一點。
And so, it's more about their long-term planning cycles than it is about any product cycle, particularly in the enterprise, which is where a lot of the growth is coming from and a lot of the products are coming forward.
因此,更多的是關於他們的長期規劃週期,而不是任何產品週期,尤其是在企業中,這是很多增長的來源,很多產品正在推出。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Raimo Lenschow, Barclays.
Raimo Lenschow,巴克萊銀行。
Raimo Lenschow - Analyst
Raimo Lenschow - Analyst
Thanks for taking my question and congratulations on the quarter.
感謝您提出我的問題並祝賀本季度。
And I'm having a forward-looking question on the gross margin.
我對毛利率有一個前瞻性的問題。
Remember in the last few quarters, where you had a slight negative mix factor.
請記住,在過去幾個季度中,您有輕微的負面混合因素。
As I look into the new product launches into the next year, is there anything -- they're all kind of high gross margin areas.
當我研究明年推出的新產品時,有什麼東西——它們都是高毛利率的領域。
Is there anything that stops that feeding through into the P&L?
有什麼東西可以阻止這種情況進入損益表嗎?
Or, should it be a straightforward one?
或者,它應該是直截了當的嗎?
Thank you.
謝謝你。
Peter Klein - CFO
Peter Klein - CFO
Well, you are correct.
嗯,你是對的。
Mix is what drives the gross margin percentage and [not a few] we saw that this quarter.
混合是推動毛利率百分比的因素,而我們本季度看到的[不是少數]。
And so you are right in the math of that, if there's good growth, better growth in higher-margin products, that will have a positive impact on gross margin.
所以你在數學上是對的,如果增長良好,利潤率更高的產品增長更好,這將對毛利率產生積極影響。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, next question please.
接線員,請下一個問題。
Operator
Operator
Gregg Moskowitz, Cowen.
格雷格莫斯科維茨,考恩。
Gregg Moskowitz - Analyst
Gregg Moskowitz - Analyst
Okay, thank you.
好的謝謝你。
This past quarter, both Gartner and IDC saw a better than expected PC uptick in the European corporate market.
上個季度,Gartner 和 IDC 都看到歐洲企業市場的 PC 增長好於預期。
And your reported Windows revenues certainly support that.
您報告的 Windows 收入肯定支持這一點。
I know broadly speaking, the business refresh was healthy.
我知道從廣義上講,業務更新是健康的。
Just was wondering if there's anything you would add that might have contributed to an uptick in Europe PC growth?
只是想知道您是否會添加任何可能有助於歐洲 PC 增長的內容?
Thanks.
謝謝。
Peter Klein - CFO
Peter Klein - CFO
You know, nothing specific to add to that.
你知道,沒有什麼特別要添加的。
We did, as we talked about, we saw broad-based growth geographically in business in particular.
正如我們所談到的,我們確實看到了廣泛的地理增長,尤其是在業務方面。
And so there's nothing unusual or specific in Europe about that.
所以在歐洲沒有什麼不尋常或具體的。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Operator, last question please.
接線員,最後一個問題。
Operator
Operator
Jason Maynard, Wells Fargo.
傑森梅納德,富國銀行。
Jason Maynard - Analyst
Jason Maynard - Analyst
Hi, good afternoon, guys.
嗨,下午好,伙計們。
I had a question on this fiscal '13 OpEx guidance, which is a couple points, looks like, if you use the midpoint ahead of the fiscal '12 growth rate.
我對這個 '13 財年 OpEx 指導有一個問題,如果你使用 '12 財年增長率之前的中點,這似乎是幾點。
And I'm just curious, the delta obviously I would assume would come to some of the product launches.
我只是好奇,顯然我認為增量會出現在一些產品發布中。
But the question broader is, do you think you have enough spend baked into that model to account for the big push you're going to need to make around perhaps on the smartphone side, given that that's an area where you're coming from behind?
但更廣泛的問題是,你認為你是否有足夠的資金投入到這個模型中來解釋你可能需要在智能手機方面做出的巨大推動,因為這是一個你落後的領域?
Given all the other products that you're going to be releasing, and, obviously, consumer push and some of the new enterprise products?
鑑於您將要發布的所有其他產品,顯然還有消費者推動和一些新的企業產品?
Thanks.
謝謝。
Peter Klein - CFO
Peter Klein - CFO
Thanks, Jason.
謝謝,傑森。
You know obviously over the last several years, and even longer, we've really been focused on making sure we're prioritizing our spend to the highest value areas.
您顯然知道,在過去幾年甚至更長的時間裡,我們一直專注於確保我們將支出優先用於最高價值的領域。
And so you ask a good question, and our approach is exactly the same.
所以你問了一個很好的問題,我們的方法是完全一樣的。
Like we've done in the last couple of years, we're really looking at next year and saying how can we most effectively and most efficiently allocate the resources to the areas that drive the best long-term results.
就像我們在過去幾年所做的那樣,我們真正著眼於明年,並說我們如何才能最有效和最有效地將資源分配到推動最佳長期成果的領域。
And we think we've got a good balance there as we've had in the past.
我們認為我們在過去取得了很好的平衡。
We've tried to be transparent and consistent and that, really, predictably execute against that.
我們試圖做到透明和一致,並且確實可以預見地執行。
And I think what we've got next year is a good balance between the exciting launches that we had that really drive both short and long-term growth, as well as hopefully a good financial result.
我認為明年我們將在激動人心的發布之間取得良好的平衡,這些發布真正推動了短期和長期增長,以及希望獲得良好的財務結果。
Bill Koefoed - General Manager, Investor Relations
Bill Koefoed - General Manager, Investor Relations
Okay, so that will wrap up our Q&A portion of today's earnings call.
好的,這將結束我們今天財報電話會議的問答部分。
We look forward to seeing many of you at the numerous conferences in which we will be participating this quarter.
我們期待在本季度參加的眾多會議上見到你們中的許多人。
For those of you unable to attend in person, you will be able to follow our comments at Microsoft.com/investor.
對於那些無法親自出席的人,您可以在 Microsoft.com/investor 上關注我們的評論。
Please contact us if you have any additional questions or need additional details.
如果您有任何其他問題或需要更多詳細信息,請聯繫我們。
Thanks again for joining us today, really appreciate it and take care.
再次感謝您今天加入我們,非常感謝並保重。
Bye-bye.
再見。
Operator
Operator
This concludes today's conference.
今天的會議到此結束。
Thank you for your participation.
感謝您的參與。
You may now disconnect.
您現在可以斷開連接。