Microsoft flags $0.8M writedown on stake in GM-backed Cruise

Investing.com — Microsoft Company (NASDAQ:MSFT) mentioned Wednesday it will take a $800 million writedown in Q2 on its stake in Common Motors-backed robotaxi agency Cruise only a day after the automaker introduced it will halt funding for robotaxi manufacturing.

The impairment cost of roughly $800 million seen in Q2 is predicted to have a detrimental affect of roughly $0.09 to Q2 diluted earnings per share.

This cost wasn’t included within the the corporate’s second quarter steering supplied on October 30, 2024.

Microsoft introduced it had taken a minority stake in Cruise in January 2021.