Microsoft 4Q earnings hurt by Nokia acquisition
Jul. 22, 2014
REDMOND, Wash. (AP) — Microsoft is reporting fourth-quarter earnings that took a hit from the Nokia devices business that it bought in April. Net income in the three months through June 30 fell 7 percent to $4.61 billion, or 55 cents per share, from $4.97 billion, or 59 cents per share, a year ago. Adjusted for charges mostly related to Nokia, earnings was 66 cents. Analysts polled by FactSet were expected 60 cents per share of earnings. Microsoft Corp. said the absorption of the Nokia unit cut 8 cents per share from earnings. Revenue rose 18 percent to $23.4 billion, although $2 billion came from the Nokia unit. That was slightly better than the $23 billion analysts were looking for. Last week, Microsoft announced it's cutting up to 18,000 jobs, mostly related to Nokia.