Live updates

Advertisement

Microsoft reports biggest quarterly loss in its history

The tech giant is blaming much of its losses on acquiring Nokia. Credit: Reuters

Microsoft has reported the biggest quarterly loss in its history, as a result of its $7.6 billion (£4.8bn) purchase of Nokia.

The US-based technology giant announced a loss of $2.1 billion (£1.3bn) for the fourth quarter of its financial year, with revenue of $22.2 billion (£14.2bn).

The Windows software maker did however also announce a 117% increase in its Surface tablet business as it continues to do battle with Apple's iPad.

The Surface business is now worth $888 million (£570m), and the Xbox was on the up to, with revenue from the games console up 27%.

Advertisement

Frustrated iPhone users report problems with Apple Pay

Disgruntled Apple customers took to Twitter after finding problems with the new contactless Apple Pay service within hours of it launching in the UK.

Many complained that not all banks supported the new feature or could not get their cards to register.

But others apparently had no problem using the payment method.

Load more updates