Microsoft Reports Quarterly Loss on $13.8 Billion Charge From Tax-Law Changes -- Earnings Review
January 31 2018 - 5:38PM
Dow Jones News
By Maria Armental
Microsoft Corp. (MSFT) reported second-quarter results on
Wednesday. Here's what you need to know:
EARNINGS: Microsoft swung to a quarterly loss of $6.3 billion,
or 82 cents a share, from a year-earlier profit of $6.27 billion,
or 80 cents a share. Excluding the impact from the tax-law changes
and other items, profit was $7.5 billion, or 96 cents a share.
Analysts surveyed by S&P Global Market Intelligence expected
Microsoft to report 86 cents a share.
TAX LAW: The Redmond, Wash., company recorded charges of $13.8
billion related to U.S. tax-law changes. Microsoft holds the second
largest stash of cash abroad among U.S. corporations--behind Apple
Inc. As of Dec. 31, Microsoft reported $142.8 billion in cash.
REVENUE: Revenue rose 12% to $28.92 billion, beating analysts'
estimates of $28.41 billion. The two biggest pieces of Microsoft's
cloud-computing operations--its Azure infrastructure services and
Office 365 online-productivity business--saw revenue rise 98% and
41%, respectively.
DEBT: Microsoft ended the quarter with $73.35 billion in
long-term debt.
STOCK: Shares, which set a record this week, fell 1% to $94.18
in after-hours trading.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 31, 2018 17:23 ET (22:23 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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