Microsoft Reported $6.3 Billion Loss in FY17 Quarterly Report
Microsoft reported a hefty loss in the past quarter, as it set aside billions of dollars for taxes on profits it expects to bring back to the United States following passage of a major tax overhaul.
The technology giant said its loss for the quarter to December 31 was USD 6.3 billion as it took a charge of USD 13.8 billion to pay its taxes.
Revenue for Microsoft's fiscal second quarter rose 12 per cent to USD 28.9 billion as it saw gains in business services and cloud computing.
Once the world's largest technology company, Microsoft has been rebooting as consumers shift away from Windows- powered computers to mobile devices.
This has pushed Microsoft to focus on the internet cloud, artificial intelligence, and services for connected "internet of things" devices.
"This quarter'...