After failing to generate expected growth with the 2007 purchase of aQuantive, Inc., Microsoft Corp. (MSFT) reduced its forecasts regarding the online services division segment, and the company is taking a U.S.$6.2 billion write-down for the fiscal fourth quarter. In a statement, Microsoft also announced it will take a non-cash, non-tax-deductible income statement charge for the fourth quarter of fiscal year 2012.
The company attributed the change to the impairment of goodwill in its online services division segment, mostly related to aQuantive’s acquisition, for which Microsoft paid $6.3 billion.
Microsoft reduced its expectations for future growth and profitability and noted that while the aQuantive acquisition continues to provide tools for Microsoft’s online advertising efforts, the acquisition did not accelerate growth to the degree anticipated, contributing to the write-down.
In a statement released 4:30 pm EDT, Microsoft said it does not expect this accounting write-down to affect its ongoing business or financial performance.