Microsoft posts record loss as it writes down Nokia
Microsoft reported a $3.2 billion quarterly net loss (its biggest ever), as the company wrote down its Nokia phone business and demand fell for its Windows operating system.
The company took a charge of $7.5 billion in the fourth quarter related to the restructuring of its Nokia handset business, which it bought last year.
Microsoft’s shares fell 4 percent to $45.38 in extended trading on Tuesday (July 21).
Sales of Windows to businesses fell 21 percent from the year-earlier quarter, when demand for the operating system had surged after Microsoft discontinued support for Windows XP.