Q1 Fiscal Year 2014
Earnings Presentation, Commentary
& Financial Results Supplement
October 29, 2013
Exhibit 99.2


Safe Harbor Statement
2
This presentation and the accompanying notes contain statements about our future expectations, plans and prospects of
our business that constitute forward-looking statements for purposes of the safe harbor provisions under the Private
Securities Litigation Reform Act of 1995, including but not limited to our financial guidance, outlook, expectations, and
investment areas for the fiscal year 2014; our planned investments in our business and the anticipated effects of those
investments; and the anticipated development of our business, markets, and financial results in fiscal 2014 and beyond,
including the impact of our hedging activities. Forward-looking projections and expectations are inherently uncertain, are
based on assumptions and judgments by management, and may turn out to be wrong. Our actual results may differ
materially from those indicated by these forward-looking statements as a result of various important factors, including but
not limited to flaws in the assumptions and judgments upon which
our projections and guidance are based; our failure to
execute our strategy; our failure to make the investments in our
business that we plan to make or the failure of those
investments to have the effects that we expect; our failure to identify and address the causes of our revenue weakness in
Europe; our failure to acquire new customers and enter new markets, retain our current customers, and sell more
products to current and new customers; the willingness of purchasers of marketing services and products to shop online;
currency fluctuations that affect our revenues and costs, including the impact of our currency hedging strategies; costs
and disruptions caused by acquisitions; the failure of our acquired businesses to perform as expected; unanticipated
changes in our market, customers or business; our failure to promote and strengthen our brand; the failure of our current
and new marketing channels to attract customers; our failure to manage the growth, changes, and complexity of our
business and expand our operations; competitive pressures; our failure to maintain compliance with the financial
covenants in our revolving credit facility or to pay our debts when due; costs and judgments resulting from litigation;
changes in the laws and regulations or in the interpretations of
laws or regulations to which we are subject, including tax
laws, or the institution of new laws or regulations that affect our business; and general economic conditions. You can also
find other factors described in our Form
10-K for the fiscal year ended June
30, 2013 and the other documents we
periodically file with the U.S. Securities and Exchange Commission.


Presentation Organization & Call Details
3
Presentation Organization:
Q1 FY14 overview
Q1 FY14 operating and
financial results
FY14 outlook
Supplementary information
Reconciliation of GAAP to
Non-GAAP results
Live Q&A Session:
5:15 p.m. Eastern
Link from the IR section of
www.vistaprint.com
Hosted by:
Robert Keane
President & CEO
Ernst Teunissen
EVP & CFO


Quarterly Financial Results
4
Revenue and EPS results for the consolidated business, including
Albumprinter and Webs results since October 31, 2011 and December 28,
2011 (dates of purchase, respectively). 
Non-GAAP adjusted net income per diluted share for all periods presented excludes the impact of share-based compensation expense and its
related tax effect, amortization of acquired intangible assets and a tax charge related to the alignment of Webs IP with our global operations.
Please see reconciliation to GAAP net income (loss) at the end of this presentation.
* Per diluted share


FY14 Operational Performance:
Invigorate the Core Business
5
Strategy Element
Description
Long-Term Goals
Q1FY14 Examples
Major improvements to customer
experience, satisfaction and loyalty
Change success metrics from
short-term transaction-focused
value to longer-term life time value
and achieve higher life time value
per customer
Launched market standard
formats for business cards in EU
and NA
Launched range of brilliant finish
options for business cards
Rolled out pricing and
messaging changes in various
countries
Invest more deeply into selected
traditional Vistaprint marketing
channels and expand in relatively
new channels such as broadcast
with higher than average COCA,
but excellent longer term ROI.
Accelerate new customer
acquisition
Reach offline audiences not
currently looking to online suppliers
Continued to optimize spend in
relatively new channels
Trimmed ad expense in Europe
with change in customer
economics
Accelerate investment in production
process improvements, employee
training, supply chain management
and manufacturing-related
engineering
Step function changes in quality
and reliability
Significantly lower unit
manufacturing costs
Introduction of brilliant finish and
market standard format
business cards
Tested binning and packing
improvements in Venlo
Neared completion of new
Design and Technology Center
in Winterthur, Switzerland to
support growing engineering,
supply chain and R&D teams
Customer Value
Proposition
Improvements
Life Time Value
Based Marketing
World Class
Manufacturing


FY14 Operational Performance:
Build Foundations for Future Growth
6
Strategy Element
Description
Long-Term Goals
Q1FY14 Examples
Digital small business marketing
offerings (websites, email
marketing, social media)
Lay foundations for continued rapid
growth five and more years in the
future
Seek M&A opportunities of firms
that possess technology, market
presence and/or expertise in target
areas
Total Q1 digital marketing
services revenue of approx. $21
million (includes Webs) or
approx. 8% of revenue.
Integrated Webs site-builder
technologies into Vistaprint
digital website product and
rolled out to customers
Enable customers to share and
preserve memories through
personalized products for home
and family use
Expanded design content in
preparation for Q2 holiday
season
Launched custom mobile phone
cases to Albumprinter customer
base
Expand to markets beyond North
America and Europe
Continued focus on supporting
growth in India, Japan and
China
Decision to manage emerging
markets differently going
forward
Digital Marketing
Home & Family
Geographic Expansion


Q1 FY 2014
Financial and Operating
Results
7


Q1 FY 2014: Key Financial Metrics
8
**
Non-GAAP adjusted net income and non-GAAP adjusted EPS exclude share-based compensation expense and its related tax effect,
amortization of acquired intangible assets, and charges related to the alignment of Webs IP with our global operations. Please see
reconciliation to GAAP net income (loss) and EPS at the end of this presentation.
Quarter Ended 09/30/2013
Revenue
$275.1 million
9% y/y growth
9% y/y constant currency growth
GAAP Net Income
$0.4 million
0.1% net margin vs. (0.7)% last year
increase of 124% y/y
$0.01 Diluted EPS
increase of 120% y/y
Non-GAAP Adjusted Net
Income**
$11.3 million
4.1% net margin vs. 3.6% last year
increase of 26% y/y
$0.32 Non-GAAP Diluted EPS
increase of 28% y/y


Cash Flow & ROIC Highlights
Quarterly cash flows and investments (in millions)
Q1FY14
Q1FY13
Cash flow from operations
$(0.1)
$6.6
Free cash flow*
$(19.6)
$(22.4)
Capital expenditures
$17.6
$27.8
as % of revenue
6.4%
11.0%
Trailing Twelve Month Return on Invested Capital** (GAAP)
10%
7%
Trailing Twelve Month Return on Invested Capital** (Non-GAAP)
20%
15%
*
FCF
=
Cash
Flow
from
Operations
Capital
Expenditures
Purchases
of
Intangible
assets
not
related
to
acquisitions
Capitalized
Software Expenses
**
ROIC
=
NOPAT
/
(Debt
+
Equity
Excess
Cash)
Net operating profit after taxes (NOPAT)
Excess cash is cash and investments of 5% of last twelve month revenues
Operating leases have not been converted to debt
Non-GAAP TTM ROIC excludes share-based compensation expense and its related tax effect, amortization of acquired intangibles,
and charges related to the alignment of Webs IP with our global operations
Excess cash definition updated in period ending 03/31/2013 and for prior periods.
9
Share repurchase program
Q1FY14
Shares purchased
-
Average cost per share
-
Total purchase spend, inclusive of transaction costs, in millions
-
Balance sheet  (in millions, as of September 30, 2013)
Cash and cash equivalents
$64.7


Geographic Segment Revenue -
Quarterly
(millions)
North America:
60% of total revenue
14% y/y growth
15% y/y constant currency
growth
Europe:
34% of total revenue
6% y/y growth
2% y/y constant currency
growth
Asia Pacific:
6% of total revenue
-11% y/y growth
2% y/y constant currency
growth
Revenue results for the consolidated business, including Albumprinter and Webs results since respective acquisition dates. All Albumprinter revenue
included in European segment.  All Webs revenue included in NA segment.
Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior
year
period’s
average
exchange
rate
for
each
currency
to
the
U.S.
dollar
and
excludes
the
impact
of
gains
and
losses
on
effective
currency
hedges
recognized in revenue.
Please see reconciliation to reported revenue growth rates at the end of this presentation. 
Q1 FY2014
10


Operational Metrics
(Includes Albumprinter and Webs as of acquisition dates)
11
*Albumprinter and Webs included starting Q3FY12
Also starting in the same period, a minor calculation methodology change was made in order to accommodate the
consolidation of metrics.


Operational Metrics
(Includes Albumprinter and Webs as of acquisition dates)
12
*Albumprinter and Webs included starting Q3FY12
Also starting in the same period, a minor calculation methodology change was made in order to accommodate the
consolidation of metrics.


Historical Revenue Driver Metrics
(Includes Albumprinter and Webs as of acquisition dates)
13
*trailing twelve month at period end
**TTM repeating customers as % of year-ago unique customers
Starting in Q3 FY12, impact of Albumprinter and Webs has been included.


Historical Revenue Driver Metrics
(Includes Albumprinter and Webs as of acquisition dates)
14
Starting in Q3 FY12, impact of Albumprinter and Webs has been included.


Looking Ahead
15


FY14 Outlook Commentary
16
Revenue guidance range increase of $15M updated only to reflect
recent currency movements; no update to operational outlook
o
NA continued growth rates in mid-teens
o
EU revenue essentially flat versus FY13
Re-building the foundation
Roll-out of initiatives starting in largest markets
o
Asia-Pacific growth rates in high single to low double digits
EPS guidance remains unchanged
o
Continue to drive toward margin expansion and EPS growth
o
Discipline in P&L management and expected improvement in
European profitability
o
Remain committed to balancing meaningful earnings growth and
margin expansion with revenue targets


Financial Guidance*
(as of October 29, 2013)
The
Company
is
providing
the
following
assumptions
to
facilitate
non-GAAP
adjusted
net
income
per
diluted
share
comparisons
that
exclude
share-
based compensation related expenses, amortization of acquired intangible assets and tax charges related to the alignment of IP with our global
operations:
FY14
ending 06/30/2014
Revenue
$1,250 -
$1,300
Revenue growth from FY 2013 period
7% -
11%
Constant currency revenue growth estimate
7% -
11%
GAAP EPS
$1.35 -
$1.70
EPS growth from FY 2013 period
59% -
100%
GAAP share count
34.4 million
FY14
ending 06/30/2014
Non-GAAP adjusted EPS
$2.49 -
$2.83
EPS growth from FY 2013 period
16% –
32%
Non-GAAP share count
35.0 million
Non-GAAP exclusions
$40.5
* Millions, except share and per share amounts and as noted
17


Capital Expenditures Guidance
(as of October 29, 2013)
Expressed as percent of revenue
FY 2014 Guidance:
Actuals
Guidance
$63M
$63M
$76M
$100M
$85M
$101M
$37M
18
$46M
$79M
$85M -
$100M
7% -
8% of revenue
guidance midpoint


Summary
In-line Q1 results
Focus on strategic initiatives and operational
implementation
Continued focus on driving:
o
Long-term revenue and profit growth
o
Competitive advantage
o
Significant value for long-term shareholders
19


Q&A Session
Please go to the
Investor Relations section of www.vistaprint.com
for the live Q&A call at
5:15
pm
EDT
on
October
29,
2013


Q1 Fiscal Year 2014
Financial and Operating Results Supplement


Total Company Growth Rates*
*Starting in Q2FY2012, revenue from acquired companies included.
Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the
current
period
using
the
prior
year
period’s
average
exchange
rate
for
each
currency
to
the
U.S.
dollar
and
excludes
the
impact
of
gains and losses on effective currency hedges recognized in revenue.
Please see reconciliation to reported revenue growth rates at the end of this presentation. 
9%
reported
9%
constant-currency
22
22% constant-currency growth
FY11
FY12
25% constant-currency growth
FY13
16% constant-currency growth


Segment Revenue Growth Rates*
Constant Currency
23
*Starting in Q2FY2012, revenue from acquired companies included.
Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period
using
the
prior
year
period’s
average
exchange
rate
for
each
currency
to
the
U.S.
dollar
and
excludes
the
impact
of
gains
and
losses
on
effective currency hedges recognized in revenue.
Please see reconciliation to reported revenue growth rates at the end of this presentation. 


Gross Margin and Gross Profit
24


GAAP Net Income (Loss) and Net Margin
25


Non-GAAP Adjusted Net Income*
and Adjusted Net Margin
*Non-GAAP
adjusted
net
income
for
all
periods
presented
excludes
the
impact
of
share-based
compensation
expense
and
its
related
tax
effect,
amortization
of
acquired
intangibles,
and
charges
related
to
the
alignment
of
Webs
IP
with
our
global
structure.
Please
see
reconciliation
to
GAAP
net
income
at
the
end
of
this
presentation.
26


Q1 Income Statement Comparison to Prior Year
(as a percentage of revenue)
27


Q1 Income Statement Comparison to Prior Quarter
(as a percentage of revenue)
28


Share-Based Compensation* (millions)
*  Share-based compensation (SBC) expense includes SBC-related tax adjustment.
29


Revenue Seasonality
(Includes Albumprinter and Webs as of the dates of acquisition)
* Home and family revenue is calculated using a product format-based approach; all Albumprinter
revenue is included in home and family and all Webs revenue is included in Small business marketing
30


Balance Sheet Highlights
Balance Sheet highlights, in millions, at period end
09/30/2013
06/30/13
03/31/13
12/31/12
09/30/12
Total assets
$638.7
$601.6
$616.4
$653.7
$620.5
Cash and cash equivalents
$64.7
$50.1
$51.3
$64.7
$59.3
Total current assets
$121.8
$100.2
$104.4
$132.3
$114.6
Goodwill and intangible assets
$171.5
$171.2
$174.3
$179.2
$179.5
Total liabilities
$432.0
$412.0
$414.7
$443.8
$421.3
Current liabilities
$144.3
$155.0
$154.0
$182.4
$129.4
Long-term debt
$262.5
$230.0
$229.0
$230.5
$259.3
Shareholders’
Equity
$206.7
$189.6
$201.7
$209.9
$199.2
Treasury shares  (in millions)
11.0
11.3
10.9
16.4
15.7
31


Total Debt
Availability under our credit facility
9/30/13
Maximum aggregate available borrowing amounts
$497.5M
Outstanding borrowings of credit facility
($270.0M)
Remaining amount
$227.5M
Limitations to borrowing due to debt covenants and other obligations*
($1.5M)
Amount available for borrowing as of September 30, 2013
$226.0M
32
Aggregate loan commitments of $497.5M
Interest
rate
of
LIBOR
plus
1.50%
-
2.0%,
depending
on
leverage
Currently in compliance with all covenants.  Key covenants are:
o
Total leverage ratio not to exceed 3.5x TTM EBITDA (reducing to 3.25x on 3/31/14 and 3.0x on 3/31/15).
o
Interest coverage ratio of at least 3.0x TTM EBITDA.
The
use
of
available
borrowings
for
share
repurchases
or
mergers
and
acquisitions
is
subject
to
more
restrictive covenants that lower available borrowings for such purposes relative to the general
availability described in the table below.
* Our borrowing ability can be limited by our debt covenants each quarter. These covenants may limit our borrowing capacity depending on
our leverage, other indebtedness, such as installment obligations and letters of credit, and other factors that are outlined in our credit
agreement filed as an exhibit in our Form 8-K filed on February 13, 2013.


Q1 FY14 Capital Expenditure Breakdown
1
Land,
building
and
construction,
leasehold
improvements,
and
furniture
and
fixtures
2
All
manufacturing
and
automation
equipment,
including
offset
and
digital
print
lines,
other
printing
equipment, pre-press and post-press equipment such as cutters, and automation equipment
3   IT infrastructure, software and office equipment
33
Q1 FY14 CapEx: $17.6M


Appendix
Including a Reconciliation of
GAAP to Non-GAAP Financial
Measures


About
non-GAAP financial measures
To supplement Vistaprint’s consolidated financial statements presented in accordance with
U.S. generally accepted
accounting principles, or GAAP, Vistaprint has used the following measures defined as non-GAAP financial measures by
Securities and Exchange Commission, or SEC, rules: non-GAAP adjusted net income, non-GAAP adjusted net income
per diluted share, free cash flow, constant-currency revenue growth, and constant-currency organic revenue growth. The
items excluded from the non-GAAP adjusted net income measurements are share-based compensation expense and its
related tax effect, amortization of acquisition-related intangibles, and tax charges related to the alignment of
acquisition-
related intellectual property with global operations.  Free cash
flow is defined as net cash provided by operating activities
less purchases of property, plant and equipment, purchases of intangible assets, and capitalization of software and
website development costs.  Constant-currency revenue growth is estimated by translating all non-U.S. dollar
denominated revenue generated in the current period using the prior year period’s average exchange rate for each
currency to the U.S. dollar and excludes the impact of gains and
losses on effective currency hedges recognized in
revenue.
The presentation of non-GAAP financial information is not intended to be considered in isolation or as a substitute for the
financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP
financial measures, please see the tables captioned “Reconciliations of Non-GAAP Financial Measures”
included at the
end of this release. The tables have more details on the GAAP financial measures that are most directly comparable to
non-GAAP financial measures and the related reconciliation between these financial measures.
(continued on next page)
35


About
non-GAAP financial measures
continued…
Vistaprint’s management believes that these non-GAAP financial measures provide meaningful supplemental
information in assessing our performance and when forecasting and analyzing future periods. These non-GAAP
financial measures also have facilitated management’s internal comparisons to Vistaprint’s historical performance and
our competitors’
operating results. 
Management provides these non-GAAP financial measures as a courtesy to investors.  However, to
gain a more
complete understanding of the company’s financial performance, management does (and investors should) rely upon
GAAP statements of operations and cash flow.
36


Reconciliation: GAAP to Non-GAAP Results
FY 2003
FY 2004
FY 2005*
FY 2006
FY 2007
FY 2008
FY 2009
FY2010
FY2011
FY2012
FY2013
GAAP Net Income
$473
$3,440
($16,218)
$19,234
$27,143
$39,831
$55,686
$67,741
$82,109
$43,994
$29,435
Share-based
compensation and
related tax effect
$0
$0
$0
$4,850
$8,765
$15,275
$20,177
$23,156
$22,400
$26,060
$33,662
Amortization of
acquired intangible
assets
-
-
-
-
-
-
-
-
-
$5,754
$10,361
Tax Impact of Webs
IP transfer
-
-
-
-
-
-
-
-
-
$1,235
$2,387
Non-GAAP
Adjusted Net Income
$473
$3,440
$4,782
$23,146
$35,908
$55,106
$75,863
$90,897
$104,509
$77,043
$75,845
Net Income (Loss) –
Annual
($ in thousands)
*Fiscal 2005 non-GAAP results exclude a contract termination payment of $21mm
37


Reconciliation: GAAP to Non-GAAP Results
.
Fiscal Year 2011
Fiscal Year 2012
Fiscal Year 2013
FY2014
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
GAAP Net Income
$34,014
$22,917
$14,397
$8,172
$31,697
$274
$3,851
$(1,696)
$22,960
$5,866
$2,305
$412
Share-based
compensation and
related tax effect
$6,435
$5,285
$5,129
$4,876
$5,021
$7,566
$8,596
$8,445
$8,540
$8,353
$8,324
$8,576
Amortization of
acquired intangible
assets
-
-
-
-
$1,148
$2,381
$2,225
$2,178
$2,243
$2,275
$3,665
$2,200
Tax Impact of
Webs IP Transfer
-
-
-
-
-
$1,017
$218
-
$2,164
$431
($208)
$63
Non-GAAP
Adjusted Net
Income
$40,449
$28,202
$19,526
$13,048
$37,866
$11,238
$14,890
$8,927
$35,907
$16,925
$14,086
$11,251
Net Income (Loss) –
Quarterly
($ in thousands)
38


Diluted Earnings Per Share -
Annual
Reconciliation: GAAP to Non-GAAP Results
39
FY 2006
FY 2007
FY 2008
FY 2009
FY2010
FY2011
FY2012
FY2013
GAAP Net Income per share
$0.45
$0.60
$0.87
$1.25
$1.49
$1.83
$1.13
$0.85
Share-based Compensation
and related tax effect per
share
$0.09
$0.18
$0.31
$0.43
$0.49
$0.47
$0.65
$0.95
Amortization of acquired
intangible assets per share
-
-
-
-
-
-
$0.14
$0.29
Tax Impact of Webs IP
Transfer per share
-
-
-
-
-
-
$0.03
$0.06
Non-GAAP Adjusted Net
Income Per Share
$0.54
$0.78
$1.18
$1.68
$1.98
$2.30
$1.95
$2.15
Weighted average shares
used in computing Non-
GAAP EPS
(millions)
42.651
45.825
46.780
45.099
45.989
45.448
39.426
35.201


Reconciliation: GAAP to Non-GAAP Results
Fiscal Year 2011
Fiscal Year 2012
Fiscal Year 2013
FY2014
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
GAAP Net Income per
share
$0.75
$0.51
$0.32
$0.19
$0.82
$0.01
$0.10
$(0.05)
$0.66
$0.17
$0.07
$0.01
Share-based
Compensation and related
tax effect per share
$0.14
$0.12
$0.11
$0.12
$0.12
$0.20
$0.23
$0.24
$0.24
$0.24
$0.24
$0.25
Amortization of acquired
intangible assets per share
-
-
-
-
$0.03
$0.06
$0.06
$0.06
$0.06
$0.06
$0.11
$0.06
Tax impact of Webs IP
Transfer per share
-
-
-
-
-
$0.02
$0.01
-
$0.06
$0.01
$(0.01)
$0.0
Non-GAAP Adjusted Net
Income per share
$0.89
$0.63
$0.43
$0.31
$0.97
$0.29
$0.40
$0.25
$1.02
$0.48
$0.41
$0.32
Weighted average shares
used in computing Non-
GAAP EPS
(millions)
45.625
45.079
45.156
42.569
39.041
38.346
37.620
35.793
35.156
35.217
34.633
35.005
Earnings Per Diluted Share -
Quarterly
40


Reconciliation: Free Cash Flow
(in thousands)
41
Three Months Ended
September 30,
2013
2012
Net cash provided by operating activities
$          (123)
$             6,650
Purchases of property, plant and equipment
(17,577)
(27,759)
Purchases of intangibles assets
(75)
(9)
Capitalization of software and website
development costs
(1,814)
(1,301)
Free cash flow
$        (19,589)
$            (22,419)


Reconciliation:
Constant-Currency Revenue Growth Rates
Quarterly
42
ASIA-PACIFIC
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
Q2 FY13
Q3 FY13
Q4 FY13
Q1 FY14
Reported revenue growth
55%
50%
65%
67%
41%
47%
28%
28%
26%
6%
4%
(11%)
Currency impact
(12%)
(15%)
(26%)
(22%)
(4%)
(7%)
5%
2%
(3%)
4%
4%
13%
Revenue growth in constant
currency
43%
35%
39%
45%
37%
40%
33%
29%
24%
10%
8%
2%
Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year period’s
average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges recognized in revenue.
EUROPE
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
Q2 FY13
Q3 FY13
Q4 FY13
Q1 FY14
Reported revenue growth
22%
22%
38%
31%
36%
29%
18%
12%
11%
8%
3%
6%
Currency impact
8%
(1%)
(15%)
(10%)
1%
5%
12%
11%
2%
0%
(1%)
(4%)
Revenue growth in constant
currency
30%
21%
22%
21%
37%
34%
30%
23%
14%
8%
2%
2%


Reconciliation:
Constant-Currency Revenue Growth Rates
Quarterly
43
NORTH AMERICA
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
Q2 FY13
Q3 FY13
Q4 FY13
Q1 FY14
Reported revenue growth
16%
21%
18%
17%
20%
23%
20%
22%
20%
15%
18%
14%
Currency impact
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
1%
Revenue growth in constant
currency
16%
21%
18%
17%
20%
23%
21%
22%
20%
15%
18%
15%
Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year period’s
average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges recognized in revenue.
TOTAL COMPANY
Q2 FY11
Q3 FY11
Q4 FY11
Q1 FY12
Q2 FY12
Q3 FY12
Q4 FY12
Q1 FY13
Q2 FY13
Q3 FY13
Q4 FY13
Q1 FY14
Reported revenue growth
20%
23%
27%
25%
28%
26%
20%
18%
16%
12%
12%
9%
Currency impact
3%
(1%)
(7%)
(5%)
0%
2%
5%
5%
1%
0%
0%
0%
Revenue growth in constant
currency
23%
22%
20%
20%
28%
28%
25%
23%
17%
12%
12%
9%