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The software company had warned two weeks ago that it would take a $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. The amount reflected the bulk of the $6.3 billion acquisition cost.
The online ad business remains just a tiny part of Microsoft — comprising just four per cent 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. Take as a whole, the software giant’s results beat analyst expectations.
Shares rose 2.4 per cent to $31.39 in after-hours trading following the earnings announcement.
Including the big write-down on aQuantive, Microsoft booked a $492 million loss in the fiscal fourth quarter, or six cents a share. That compares with earnings of $5.9 billion, or 69 cents, a year ago. Revenue rose four per cent to $18.06 billion.
Excluding the adjustment and the deferral of some revenue related to its upcoming Windows 8 operating system, earnings came to 73 cents per share. Analysts polled by FactSet were looking for 62 cents per share of earnings on revenue of $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 boast new technology that will enable the operating system to work on touch-controlled tablet computers, as well as Microsoft’s traditional stronghold of desktop and laptop computers. In conjunction with Windows 8, Microsoft is planning to release its own tablet, the Surface.
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