It’s been just over a year since Microsoft swallowed the career networking site LinkedIn. That’s long enough to start asking: Was the $27 billion deal worth it?
Critics warned at the time of the deal that Microsoft was overpaying for a declining business. Others argued that Microsoft’s largest-ever acquisition fit into a strategy of building up the company’s Office suite of workplace productivity products and its cloud-computing business.
Microsoft on Wednesday posted second-quarter revenue of $28.92 billion, a 12 per cent increase over the prior year. LinkedIn’s contribution to quarterly revenue was $1.3 billion, the highest it’s been since the acquisition closed in December 2016.
The company also reported a loss of $6.3 billion, tying it to a $13.8 billion tax charge for the new federal tax law signed in December.