sex hikayeleri interior desing sikiž hikaye escort denizli porno hikaye
INTERNATIONAL BUSINESS NEWS
July 20, 2012 12:00:00 AM
  Follow @ Twitter

Microsoft posted its first ever loss on Thursday, shedding $492 million in the fourth quarter due to a massive $6.2 billion write-down to reflect the slump in value of its online operations.

Microsoft still posted an annual profit of $16.98 billion and said the results reflected "solid revenue growth and rigorous cost discipline."

The Redmond, Washington-based firm had announced earlier this month it would take the $6.2 billion write-down, which is required by accounting rules and does not affect the company's cash position.

Taking out one-time charges, Microsoft showed a profit of 73 cents a share, well ahead of Wall Street expectations of 62 cents.

Revenue also beat expectations, rising four percent to $18 billion in the quarter to June 30. For the full year, revenues were up five percent at $73.7 billion.

"We delivered record fourth quarter and annual revenue, and we're fast approaching the most exciting launch season in Microsoft history," said Steve Ballmer, chief executive of Microsoft.

The company is preparing to release a new version of its leading Windows operating system and a new tablet computer, while making an aggressive move into smartphones.

"The combination of solid revenue growth and rigorous cost discipline drove double-digit operating income growth for the quarter, adjusting for the goodwill impairment and deferred revenue," said Peter Klein, chief financial officer.

"We are focusing our resources in strategic areas that will deliver shareholder value and long-term growth opportunities."

Microsoft shares rose 2.14 percent to $31.32 in after-hours electronic trades.

The fourth quarter losses stemmed from a charge reflecting a write-down related to the 2007 acquisition of aQuantive, a digital advertising firm aimed at helping Microsoft compete against Google and others.

Microsoft announced the deal in August 2007 in a move aimed at seizing market share from rivals Yahoo! and Google in the lucrative market that tailors advertising to Internet search results.

Microsoft's Windows remains the dominant platform for personal computers, but it has lost ground to rivals such as Google and Apple in newer devices, which use rival operating systems.

The company's search and online services have struggled, while its Xbox gaming system has become among the hottest in the industry.

In its latest results, business services accounted for $6.3 billion in revenue and $4.1 billion in operating profits. Windows showed an operating profit of $2.4 billion on $4.1 billion in revenue.

But the entertainment unit showed an operating loss of $263 million on revenues of nearly $1.8 billion. And online services showing a whopping loss of $6.6 billion and revenues of just $735 million.

AFP

Wiggle


PREVIOUS STORY
Google profits surges on growing ad revenue
NEXT STORY
Earnings help US stocks eke out gains

Bookmark and Share
   




FIJI NEWS
Flag competition submission details releasedThe Fijian Government encourages participants of the national flag competition to send in a brief to explain the different elements on their design and the rationale behind it.
BUSINESS
Kontiki to operate as credit institutionReserve Bank of Fiji has granted Kontiki Finance Limited (Kontiki Finance) a credit institution licence.
TECHNOLOGY
Vodafone renovates airport shopVodafone Fiji has signed an agreement with Airports Fiji Limited which will allow for renovation of its airport shop at the arrival concourse in Nadi International Airport
HEALTH/FITNESS
$5000 boost to assist diabetes awareness programVodafone Fiji ATH Foundation has stepped in with financial boost to assist the Lions Club in their Diabetes Awareness program.
SPORTS
Pacific challenge ready for kick-offOverseas teams arrive in Fiji over the next two days ahead of the start of the World Rugby Pacific Challenge Suva's ANZ Stadium next Tuesday.
LIFESTYLE/FASHION
Fiji Link receives ATR72-600 aircraftFiji Airways, Fiji’s national airline, today received its latest ATR72-600 aircraft for its domestic subsidiary Fiji Link.
NEWS SPORTS INFOTAINMENT SERVICES MOBILE EXTRA HOT TOPICS