Microsoft Australia nudges $3B in annual revenue

Credit: Dreamstime

Microsoft’s Australian business enjoyed an increase in both revenue and after-tax profit during the financial year ending June 2019, with the vendor coming close to booking $3 billion in revenue for the year.

According to Microsoft Australia’s latest full year financial results to be lodged with the corporate regulator, the company booked $2.98 billion in annual revenue from continuing operations, a hefty increase from the $2.26 billion it reported the previous year. 

The company’s profit after tax for the year ending June 2019, meanwhile, was $108.5 million, again a notable increase from the $100.1 million it reported for the year ending June 2018.

With greater profit came a larger tax bill, with Microsoft reporting $58.3 million income tax expense in the year, up from the $53.3 million it reported the year prior.

Microsoft revealed in late 2017 it had reached a new tax arrangement with the Australian Taxation Office (ATO) — on the very same day it fronted up to a public hearing for the Government’s inquiry into Corporate Tax Avoidance on 22 August.

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