(Reuters) – Microsoft (NASDAQ:) expects to file an impairment cost of roughly $800 million within the second quarter of fiscal 2025 following Basic Motors’ (NYSE:) exit from the driving enterprise autonomous Cruise, the tech large mentioned in a submitting. Wednesday.
Basic Motors introduced Tuesday that it’s ending the event of robotic taxis, during which it has invested greater than $10 billion since 2016, citing competitors within the robotic taxi market and the “time and sources” that may be required. to develop the exercise.
Microsoft acquired a minority stake in Cruise in January 2021 as a part of a mixed new fairness funding of greater than $2 billion, which included institutional traders equivalent to Honda Motor Co. (NYSE:).
The window maker additionally mentioned the impairment cost would have a unfavourable affect of about 9 cents on its second-quarter earnings per share.
#Microsoft #expects #million #writedown #quarter #exit #Basic #Motors #Cruise #Reuters , #Gossip247
,
