Washington - US computing giant Microsoft has reported the first unprofitable quarter since it became a public company in 1986 after it wrote down the value of its failing online ad business, reported RIA Novosti.
The loss of $492 million in the fourth quarter stems mainly from the company’s acquisition of online ad service aQuantive for $6.3 billion in 2007, which failed to compete with rival Google Inc.
Despite the $6.2-billion non-cash adjustment on aQuantive value, Microsoft topped analyst’s expectations by posting a 4 percent increase in revenue to $18.06 billion for the same period.
The company’s shares went up 2.4 percent to $31.39 after the quarterly results were announced Thursday.
Investors’ confidence in Microsoft is fueled by high expectations for its new Windows 8 operating system for PCs and tablet computers, its own tablet PC called the Surface, and a new edition of Microsoft Office to be released this fall.
“We’re fast approaching the most exciting launch season in Microsoft history,†Microsoft CEO Steve Ballmer said in the company’s earnings press release.
Judging by previews, Windows 8 promises to be the most drastic overhaul of the popular Windows operating system since 1995 as it features a new look, thousands of innovations and, most importantly, could be installed on tablets and smartphones.
| Other Articles: |
 |
India's growth will decide future Chinese engagement: Author Martin Jacques (20th Jul, 2012) |
|
Chevron faces $25 mn fine for Brazil oil spill (20th Jul, 2012) |
|
UP to launch state portal for citizen welfare (20th Jul, 2012) |
|
IOB plans to raise $500 mn through MTN issue (20th Jul, 2012) |
|
Power crisis will ease, Andhra CM assures industry (20th Jul, 2012) |
|
Telangana issue not hampering investments, says Kiran Kumar (20th Jul, 2012) |
|
PayPal helps send eBay's profits soaring (19th Jul, 2012) |
|
India-Indonesia business forum launched to boost trade and investment (19th Jul, 2012) |
|
NetApp unveils software for agile data infrastructure (19th Jul, 2012) |
|
Hero MotoCorp first quarter net profit grows by 10.2 percent (19th Jul, 2012) |
|
Tea industry wants Iran to keep rupee-rial mechanism (19th Jul, 2012) |
|
Reliance communication launches new 3G tablet for Rs.14,499 (19th Jul, 2012) |
|
Sensex ends 93 points higher; IT, consumer durable stocks up (19th Jul, 2012) |
|
Government to set up board for project clearance (19th Jul, 2012) |
|
HSBC money laundering case: RBI looking into issues raised by US Senate (19th Jul, 2012) |
|
Sensex closes 87 points up (19th Jul, 2012) |
|
Tata Power's 800 MW thermal plant operational in Gujarat (19th Jul, 2012) |
|
Don't single out PM for economic woes: Ratan Tata (19th Jul, 2012) |
|
Sensex rises 128 points, IT consumer durable stocks up (19th Jul, 2012) |
|
Sony Xperia neo L up for pre-order in India at Rs 18,499 (19th Jul, 2012) |
|
Steve Jobs completed iPad 'prototype' design almost decade before 2010 debut! (19th Jul, 2012) |
|
Dabolim airport will not be shut for civilians: Parrikar (19th Jul, 2012) |
|
Shareholders' revolt brewing against Murdoch as News Corp chairman (19th Jul, 2012) |
|
Apple rumoured to be replacing iPhone 5's accessories following new patent sanction (19th Jul, 2012) |
|
US housing market ready to rebound (19th Jul, 2012) |
|
Jobs |
Blog |
Yellow Pages |
Games |
Jokes |
Chat |
e-Cards |
Astrology |
Articles |
Recipes |
Send Gifts
Today : Wednesday - May 22, 2013, 02:09am (GMT+5.5)
