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Microsoft reports first ever loss
- Middle East: Sunday, July 22 - 2012 at 11:41
Microsoft has reported its first ever loss of $492m in the fourth quarter due to a massive $6.2bn write-down to reflect the slump in value of its online operations, AFP has reported. However, the software company recorded an annual profit of $16.98bn and said the results reflected "solid revenue growth and rigorous cost discipline." Earlier this month, the company had announced it would take the $6.2bn write-down, which is required by accounting rules and does not affect the company's cash position. Excluding one-time charges, Microsoft showed a profit of 73 cents a share, well ahead of analysts' expectations of 62 cents. Revenue also beat expectations, rising 4% to $18bn in the quarter to June 30. For the full year, revenues were up 5% at $73.7bn.
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StaffSunday, July 22 - 2012 at 11:41 UAE local time (GMT+4)
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