ITEM 8. FINANCIAL STATE MENTS AND SUPPLEMENTARY DATA
INC OME STATEMENTS
(In millions, except per share amounts)
Year Ended June 30, ..................... 2025 / 2025 / 2024 / 2024 / 2023 / 2023
Revenue:
Product ................................. $ / 63,946 / $ / 64,773 / $ / 64,699
Service and other ....................... 217,778 / 180,349 / 147,216
Total revenue ........................... 281,724 / 245,122 / 211,915
Cost of revenue:
Product ................................. 13,501 / 15,272 / 17,804
Service and other ....................... 74,330 / 58,842 / 48,059
Total cost of revenue ................... 87,831 / 74,114 / 65,863
Gross margin ............................ 193,893 / 171,008 / 146,052
Research and development ................ 32,488 / 29,510 / 27,195
Sales and marketing ..................... 25,654 / 24,456 / 22,759
General and administrative .............. 7,223 / 7,609 / 7,575
Operating income ........................ 128,528 / 109,433 / 88,523
Other income (expense), net ............. ( 4,901 / ) / ( 1,646 / ) / 788
Income before income taxes .............. 123,627 / 107,787 / 89,311
Provision for income taxes .............. 21,795 / 19,651 / 16,950
Net income .............................. $ / 101,832 / $ / 88,136 / $ / 72,361
Earnings per share:
Basic ................................... $ / 13.70 / $ / 11.86 / $ / 9.72
Diluted ................................. $ / 13.64 / $ / 11.80 / $ / 9.68
Weighted average shares outstanding:
Basic ................................... 7,433 / 7,431 / 7,446
Diluted ................................. 7,465 / 7,469 / 7,472
Refer to accompanying notes.
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PART II