Microsoft announces first quarterly loss in its history

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microsoft-loss-first-everJuly 20, Washington: The IT giant Microsoft on Thursday released the first quarterly loss in its history, $ 492 million, reflecting a massive devaluation announced earlier this month that also leads to a fall of 27% of annual net income, to 16.98 billion.

Excluding exceptional items, the American shows, however, earnings per share well above expectations at 73 cents while analysts had forecast 62 cents. Revenues meanwhile increased by 5% during the year to 73.72 billion dollars, including 18.06 billion dollars for the last quarter alone (4%).

The loss for the period April to June is primarily due to depreciation, reported on June 2, the assets of the online services division, to the tune of $ 6.2 billion, and in particular the aQuantive advertising. Purchased in 2007 for some $ 6 billion, it did not glean the expected revenue.

This impairment does not impact on the Group’s operating results, the CEO Steve Ballmer said in a statement, could boast “a quarterly revenue and annual record.”

Yet, in terms of sales, Analysts were expecting a little better: 18.11 billion for the quarter and 73.78 billion for the full year lagged.

But Ballmer said that the Redmond based company is preparing new product launches with great hopes, especially the operating system Windows 8, due on 26 October, and the new version of the Office suite, due out in stride.

“We are fast approaching the season of the most exciting launches in the history of Microsoft,” he said.

“In the coming year, we will offer future versions of Windows, Office, Windows Server, Windows Phone and many other products and services that sustain our business and will offer unprecedented opportunities for our customers and partners,”-he said.

The action gained 2.14% to 31.32 dollars in trade after the market close.

News Gathered by India News

Posted by on Friday, July 20th, 2012. Filed under Business, Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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