Microsoft Sales Get Azure Boost; Tax Charge Causes Net Loss
- Software maker reports loss of $6.3 billion after tax changes
- Azure revenue rises 98%; Office 365 Commercial sales gain 41%
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Microsoft Corp. topped analysts’ estimates for second-quarter revenue, helped by brisk quarterly growth in its cloud and corporate-software businesses, while a tax charge caused the company to report a net loss.
The software maker took a $13.8 billion charge related to taxes owed on overseas cash, a result of recent changes to U.S. tax law. The net loss in the second quarter, which ended Dec. 31, was $6.27 billion, or 82 cents a share, Microsoft said Wednesday in a statement.