Software titan Microsoft posted its first quarterly loss as a public company yesterday—but still managed to beat Wall Street expectations overall.
The company faced a multi-billion-dollar writedown earlier this month, driving a $492 million loss. That's a stark contrast to the same quarter last year, when Microsoft generated nearly $6 billion in revenue.
The technology giant went public in 1986 and since then has never reported a quarterly loss. However, an ill-fated acquisition five years ago forced Microsoft to take a $6.2-billion writedown for the value of its online unit this month.
Microsoft has Windows 8 lined up, which aims to unify smartphones, tablets, and PCs with a single cross-platform operating system.