LOS ANGELES -- Microsoft Corp. said Thursday an accounting adjustment to reflect a weak online ad business led to its first quarterly loss in its 26 years as a public company.
The software company had warned it was taking a $6.2 billion charge because its 2007 purchase of online ad service aQuantive hasn't yielded the returns envisioned by management. The noncash adjustment is something companies do when the value of their assets decline.
The charge led to a $492 million loss in the April-June quarter, or 6 cents a share. That compares with earnings of $5.9 billion, or 69 cents, a year ago. Revenue rose 4 percent to $18.06 billion.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.