MicroSoft shares have hit a record low as the tech giant struggles with its quarterly earnings report.
The stock, which was up more than 60 per cent for the week of March 21, fell 1.4 per cent on Thursday morning.
A post on the company’s website showed the company had recorded a net loss of $1.6 billion.
The company’s shares fell below $1,000 for the first time since March 18.
MicroSoft had previously reported a loss of more than $300 million last quarter, a week before the company announced its earnings.
The technology company is facing a number of challenges including declining revenue, the release of a new Windows 10 operating system and continued competition from Amazon.
Its latest quarterly report showed that sales were down more than 8 per cent in the three months to March 20.
However, the company said that it was able to meet expectations and deliver a profit of $10.9 billion. ®
