On Monday, the company admitted its online businesses won’t grow as quickly or be as profitable as it has forecast, so it will book a $6.2 billion charge. The move would wipe out Microsoft’s profit for its fiscal fourth quarter ended June 30, according to Wall Street estimates for quarterly results.
The charge mostly reflects a write-down of goodwill related to Microsoft’s 2007 acquisition of aQuantive Inc., a $6.3 billion all-cash deal that Microsoft hoped would catapult it into brokering more ads across the Web.
(Curated by Dennis Moore. Read the complete article here)