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INCOME STATEMENTS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Revenue $ 143,015 $ 125,843 $ 110,360
Cost of revenue 46,078 42,910 38,353
Gross margin 96,937 82,933 72,007
Research and development 19,269 16,876 14,726
Sales and marketing 19,598 18,213 17,469
General and administrative 5,111 4,885 4,754
Operating income 52,959 42,959 35,058
Other income, net 77 729 1,416
Income before income taxes 53,036 43,688 36,474
Provision for income taxes 8,755 4,448 19,903
Net income $ 44,281 $ 39,240 [1] $ 16,571
Earnings per share:      
Basic $ 5.82 $ 5.11 $ 2.15
Diluted $ 5.76 $ 5.06 [2] $ 2.13
Weighted average shares outstanding:      
Basic 7,610 7,673 7,700
Diluted 7,683 7,753 7,794
Product      
Revenue $ 68,041 $ 66,069 $ 64,497
Cost of revenue 16,017 16,273 15,420
Service and Other      
Revenue 74,974 59,774 45,863
Cost of revenue $ 30,061 $ 26,637 $ 22,933
[1] Reflects the $157 million net charge related to the enactment of the TCJA for the second quarter and the $2.6 billion net income tax benefit related to the intangible property transfers for the fourth quarter, which together increased net income by $2.4 billion for fiscal year 2019. See Note 12 – Income Taxes for further information.
[2] Reflects the net charge related to the enactment of the TCJA and the net income tax benefit related to the intangible property transfers, which decreased (increased) diluted EPS $0.02 for the second quarter, $(0.34) for the fourth quarter, and $(0.31) for fiscal year 2019.