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

Investing.comDec 12, 2024 12:38 AM

View all comments（0）



Investing.com -- Microsoft Corporation (NASDAQ:MSFT) said Wednesday it would take a $800 million writedown in Q2 on its stake in General Motors-backed robotaxi firm Cruise just a day after the automaker announced it would halt funding for robotaxi production.

The impairment charge of approximately $800 million seen in Q2 is expected to have a negative impact of approximately $0.09 to Q2 diluted earnings per share.

This charge wasn't included in the the company's second quarter guidance provided on October 30, 2024.

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

Reviewed byTony

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

US August Nonfarm Payrolls Preview: Will the Labor Market Quell Fed Rate Hike Expectations? US Stocks, Dollar, and Gold Face Key Test

TradingKey - The U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report at 8:30 AM Eastern Time on September 4. Following hawkish signals from Federal Reserve Chair Warsh at Jackson Hole and rising international oil prices reigniting inflation concerns, this employment report will be one of the most critical macroeconomic data points ahead of the September FOMC meeting.

Today’s Market Recap: Nvidia Leads AI Chip Stocks, Dell Surges Nearly 16%, Three Major US Indexes End Three-Day Losing Streak

TradingKey - On September 2, Eastern Time, the three major US stock indices rebounded collectively, snapping a three-day losing streak. Investors re-entered the market following recent pullbacks in tech and select cyclical stocks, while AI-related equities such as Nvidia (NVDA) and Dell (DELL) gaine

Broadcom Q3 Revenue Rises 86%, Slightly Beating Estimates; Shares Fall Over 6% After Hours

Shares of Broadcom (AVGO) fell as much as 6% after the company reported its third-quarter fiscal 2026 financial results on September 2, Eastern Time. As of press time, the decline narrowed to 3.49%, with the stock trading at $354.43. During the period, Broadcom's revenue surged 86% year-over-year to $29.591 billion, topping market expectations of $29.4 billion and sustaining its rapid growth driven by AI demand.

Why Are Three Major US Stock Index Futures Under Pressure to Start September? Nvidia, Apple, Tesla, Micron in Focus

TradingKey - On the first trading day of September, U.S. stock futures moved lower across the board in pre-market trading. As of press time, Dow Jones Industrial Average futures and S&P 500 futures both fell by about 0.55%, while Nasdaq 100 futures dropped approximately 1.05%. Rising oil prices, higher U.S. Treasury yields, and heightened tensions in the Middle East combined to weigh on risk appetite.

August Kicks Off: Palantir, AMD, SanDisk Earnings and NFP Jobs Report - 5 Stocks and 3 Macro Events to Watch

The biggest tech earnings week is over. Now comes the hangover test. Palantir reports Monday. AMD reports Tuesday. SanDisk reports Wednesday. NFP drops Friday. Here are the 5 stocks and 3 macro events that define the week of August 3 to 7, 2026.

Featured Tools