Microsoft Reports Its Biggest Loss Ever

Microsoft on Tuesday reported the biggest quarterly loss in its history, acknowledging that its acquisition of Nokia’s handset business had been a major disappointment.

Microsoft said it lost $3.2 billion, or 40 cents a share, in the three months that ended on June 30, largely due to a $7.5 billion reduction in the value of the Nokia business, which Microsoft acquired for $9.4 billion last year. The quarterly loss compared to a profit of $4.6 billion in the period a year earlier.