According to Reuters Microsoft Corp admitted its largest
acquisition in the Internet sector was effectively worthless and wiped out any
profit for the last quarter, as it announced a $6.2 billion charge to write
down the value of an online advertising agency it bought five years ago.
The announcement came as a surprise, but did not shock
investors, who had largely forgotten Microsoft's purchase of aQuantive in 2007,
which was initially expected to boost Microsoft's online advertising revenue
and counter rival Google Inc's purchase of digital ad firm DoubleClick.
Microsoft's shares dipped slightly to $30.28 in after-hours
trading, after closing at $30.56 in regular Nasdaq trading….
Read all about it at http://www.reuters.com/article/2012/07/03/us-microsoft-charge-idUSBRE8611BR20120703
No comments:
Post a Comment