Microsoft posts $2.1 billion loss due to mobile restructuring
Microsoft released its Q2 financial report. Thanks in part to its previously-announced phone hardware business restructuring, the company has posted a $2.1 billion loss. A $7.5 billion non-cash impairment charge, a $780 million charge to assets and a $160 million restructuring charge are to blame. Revenues totaled $22.2 billion, while gross margin came in at $14.7 billion. Had it not been for the write-downs related to Microsoft's phone business, non-GAAP numbers show that the company would have posted a $6.4 billion profit.
The company's numbers were down all around compared to the year-ago quarter, with total revenues declining around 5%, gross margin down 7%, and profit down, well, $8.5 billion. Notably, Windows OEM revenue was down 22% ...