Microsoft expects $800M impairment charge on Cruise investment in Q2 FY2025

MICROSOFT CORP

Impairment charge ~$800M from Cruise investment after GM restructures autonomous driving strategy.
Charge will hit Q2 FY2025 other income/expense; reduces diluted EPS by ~$0.09.
Charge was not included in Q2 guidance provided Oct 30, 2024.
Shareholder meeting: all 12 directors elected, say-on-pay approved, auditor ratified.
All six shareholder proposals defeated (bitcoin, AI reports, weapons, etc.).

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