Microsoft expects US$800 million impairment charge in Q2 2025 over General Motors’ Cruise exit
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MICROSOFT expects to record an impairment charge of around US$800 million in the second quarter of fiscal year 2025 over General Motors’ exit of the Cruise autonomous driving business, the tech giant said in a filing on Wednesday (Dec 11).
General Motors said on Tuesday it is ending robotaxi development, in which it invested more than US$10 billion since 2016, citing competition in the robotaxi market and the “time and resources” that would be needed to scale the business.
Microsoft acquired a minority stake in Cruise in January 2021 in a combined new equity investment of more than US$2 billion, which included institutional investors such as Honda Motor.
The Windows maker also said the impairment charge would have a negative impact of about nine US cents on its second-quarter earnings per share. REUTERS
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