Microsoft Corporation (NASDAQ:MSFT) Q4 2019 Earnings Conference Call Transcript
Jul 18, 2019 • 05:30 pm ET
Welcome to the Microsoft Fiscal Year 2019 Fourth Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
I would like to turn the call over to Mike Spencer, General Manager of Investor Relations. Thank you. Please proceed.
Good afternoon, and thank you for joining us today. On the call with me are Satya Nadella, Chief Executive Officer; Amy Hood, Chief Financial Officer; Frank Brod, Chief Accounting Officer; and Keith Dolliver, Deputy General Counsel.
On the Microsoft Investor Relations website, you can find our earnings press release and financial summary slide deck, which is intended to supplement our prepared remarks during today's call and provides the reconciliation of differences between GAAP and non-GAAP financial measures.
Unless otherwise specified, we will refer to non-GAAP metrics on the call. The non-GAAP financial measures provided should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. They are included as additional clarifying items to aid investors in further understanding the company's fourth quarter performance in addition to the impact these items and events had on the financial results.
All growth comparisons we make on the call today relate to the corresponding period of last year, unless otherwise noted. We will also provide growth rates in constant currency, when available, as a framework for assessing how our underlying businesses performed, excluding the effect of foreign currency rate fluctuations. Where growth rates are the same in constant currency, we will refer to the growth rate only.
We will post our prepared remarks to the website immediately following the call until the complete transcript is available. Today's call is being webcast live and recorded. If you ask a question, it will be included in our live transmission, in the transcript, and in any future use of the recording. You can replay the call and view the transcript on the Microsoft Investor Relations website.
During this call, we will be making forward-looking statements, which are predictions, projections, and other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed in today's earnings press release, in the comments made during this conference call, and in the Risk Factors section of our Form 10-K, Forms 10-Q, and other reports and filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statement.
And, with that, I'll turn the call over to Satya.
Thank you, Mike, and thanks to everyone on the phone for joining. It was a strong finish to a record fiscal year. We delivered more than $125 billion in revenue for the full year with double-digit topline and bottom-line growth. Our Commercial Cloud business is the largest in the world, surpassing $38 billion in revenue for the year, with gross margin expanding to 63%. I'm proud of what we have accomplished over the last 12 months, and I'm energized