| | | | | | | | | | | | | | | | . | Analysis by: | | | | | | | | | | | | | | | . | Silicon Alley Insider | | | | | | | | | | | | | | | . | | | | | | | | | | | | | | | | . | | | | | | | | | | | | | | | | . | | | | | | | | | | | | | | | | . | MICROSOFT ONLINE SERVICES | Sep-'05 | Dec-05 | Mar-'06 | Jun-'06 | Sep-'06 | Dec-'06 | Mar '07 | June-'07 | Sep-'07 | Dec-'07 | | 2005 | 2006 | 2007 | . | Revenue | $564 | $593 | $562 | $580 | $536 | $625 | $623 | $688 | $671 | $863 | | $2,344 | $2,299 | $2,474 | . | Expenses | $496 | $535 | $586 | $767 | $638 | $743 | $823 | $927 | $935 | $1,108 | | $1,932 | $2,373 | $3,206 | . | Operating Profit | $68 | $58 | -$24 | -$187 | -$102 | -$118 | -$200 | -$239 | -$264 | -$245 | | $412 | -$74 | -$732 | . | Margin | 12% | 10% | -4% | -32% | -19% | -19% | -32% | -35% | -39% | -28% | | 18% | -3% | -30% | . | | | | | | | | | | | | | | | | . | Revenue Growth | | | | | -5% | 5% | 11% | 19% | 25% | 38% | | | | 8% | . | Expense Growth | | | | | 29% | 39% | 40% | 21% | 47% | 49% | | | | 35% | . | | | | | | | | | | | | $1600 | | | | . | Advertising Revenue | $350 | $376 | $371 | $409 | $367 | $453 | $456 | $544 | $487 | $623 | $2,110 | | $1,506 | $1,820 | . | Change | | | | | 5% | 20% | 23% | 33% | 33% | 38% | | | | 21% | . | Agency Revenue (from aQuantive) | | | | | | | | | 51 | 102 | | | $0 | $0 | . | Change | | | | | | | | | | | | | | | . | Subscription+Access Revenue | $214 | $217 | $191 | $171 | $169 | $172 | $167 | $144 | $133 | $138 | | | $793 | $652 | . | Change | | | | | -21% | -21% | -13% | -16% | -21% | -20% | | | | -18% |
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| | | | | | | | | | | | | | | | . | | | | | | | | | | | | | | | | . | Organic Ad Revenue (Less Aquantive) | $350 | $385 | $371 | $409 | $367 | $462 | $456 | $544 | $458 | $571 | | | | | . | Change | | | | | 5% | 20% | 23% | 33% | 25% | 24% | | | | | . | Organic Operating Profit (Less Aquantive) | $68 | $58 | -$24 | -$187 | -$102 | -$155 | -$200 | -$239 | -$206 | -$199 | | | | | . | Margin | 12% | 10% | -4% | -32% | -19% | -25% | -32% | -35% | -31% | -23% | | | | | . | | | | | | | | | | | | | | | | . | | | | | | | | | | | | | | | | . | Active Hotmail Accounts (mm) | | | | | 263 | 268 | 285 | 310 | NA | NA | | | | | . | Messenger Accounts (mm) | | | | | 255 | 263 | 278 | 280 | NA | NA | | | | | . | | | | | | | | | | | | | | | | . | | | | | | | | | | | | | | | | . | Analysis by: | | | | | | | | | | | | | | | . | Silicon Alley Insider | | | | | | | | | | | | | | | . | Red = Estimate | | | | | | | | | | | | | | | . | *Includes publishing revenue for the public companies listed here. | | | | | | | | | | | | | | | . | Source: Company Filings, Silicon Alley Insider estimates. | | | | | | | | | | | | | | |
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