Microsoft posts first loss as public firm
Source: Agencies |
July 21, 2012, Saturday
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Print Edition
Print Edition
MICROSOFT has posted its first quarterly loss in its 26 years as a public company as it declared a struggling online ad business a bust and prepared for one of the biggest product updates in its history.
The software company had warned two weeks ago that it would take a US$6.2 billion charge in the April-June quarter because its 2007 purchase of online ad service aQuantive failed to help it compete with Google Inc. The amount reflected the bulk of the US$6.3 billion acquisition cost.
The online ad business remains just a tiny part of Microsoft - comprising just 4 percent of its annual revenue. Most of the company's sales come from its Office suite of productivity software, Windows operating system and, increasingly, computer servers.
Upbeat business software and server sales in the quarter helped offset a flat market for personal computers, which had put a damper on Windows sales. Taken as a whole, the software giant's quarterly results beat analyst expectations.
Including the big write-down on aQuantive, Microsoft booked a US$492 million loss in the fiscal fourth quarter, or 6 US cents a share. That compares with earnings of US$5.9 billion, or 69 US cents, a year ago.
Revenue rose 4 percent to US$18.06 billion in the period.
Excluding the adjustment and the deferral of some revenue related to its upcoming Windows 8 operating system, earnings came to 73 US cents per share.
Analysts polled by FactSet were looking for 62 US cents per share of earnings on revenue of US$18.15 billion.
Microsoft's fortunes are now tied to the October 26 release of Windows 8, the most extreme redesign of the company's flagship operating system since 1995. Windows 8 will feature a new look and technology.
The software company had warned two weeks ago that it would take a US$6.2 billion charge in the April-June quarter because its 2007 purchase of online ad service aQuantive failed to help it compete with Google Inc. The amount reflected the bulk of the US$6.3 billion acquisition cost.
The online ad business remains just a tiny part of Microsoft - comprising just 4 percent of its annual revenue. Most of the company's sales come from its Office suite of productivity software, Windows operating system and, increasingly, computer servers.
Upbeat business software and server sales in the quarter helped offset a flat market for personal computers, which had put a damper on Windows sales. Taken as a whole, the software giant's quarterly results beat analyst expectations.
Including the big write-down on aQuantive, Microsoft booked a US$492 million loss in the fiscal fourth quarter, or 6 US cents a share. That compares with earnings of US$5.9 billion, or 69 US cents, a year ago.
Revenue rose 4 percent to US$18.06 billion in the period.
Excluding the adjustment and the deferral of some revenue related to its upcoming Windows 8 operating system, earnings came to 73 US cents per share.
Analysts polled by FactSet were looking for 62 US cents per share of earnings on revenue of US$18.15 billion.
Microsoft's fortunes are now tied to the October 26 release of Windows 8, the most extreme redesign of the company's flagship operating system since 1995. Windows 8 will feature a new look and technology.
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