Microsoft is Now More Valuable Than Alphabet
According to a report in Investor's Business Daily late Tuesday, Microsoft had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet.
Microsoft Issues Security Alert Over Cyber Attack: Reports
Microsoft has surpassed Alphabet, the parent company of Google, in the market capitalisation for the first time in three years, becoming the third most valuable firm after Apple and Amazon globally. According to a report in Investor's Business Daily late Tuesday, Microsoft had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet. Apple leads with a market cap of nearly $924 billion and Amazon is at distant second, with nearly $783 billion.
The credit for Microsoft's rise goes to its CEO Satya Nadella who has been strategically restructuring the company towards Cloud and Office offerings. Driven by consistent growth in its Office and Cloud solutions, Microsoft posted a revenue of $26.8 billion and net income of $7.4 billion in its third quarter that ended on March 31. "We are innovating across key growth categories of infrastructure, AI, productivity and business applications to deliver differentiated value to customers," Nadella said.
Office commercial products and Cloud services revenue increased 14 percent -- driven by Office 365 commercial revenue growth of 42 percent. The Azure cloud offering had 93 percent revenue growth. Revenue in Productivity and Business Processes was $9 billion and increased 17 percent in the quarter. Microsoft now has over 135 million active Office 365 business users, with 30.6 million Office 365 consumer users. Revenue in Intelligent Cloud was $7.9 billion and increased 17 percent.
Also Watch: Karbonn Titanium Frames S7 Review: A Decent Budget Deal
Recommended For You
- Leonardo DiCaprio, Brad Pitt to Compete with Akshay Kumar, John Abraham, Saif Ali Khan on August 15
- Move Over PUBG, Indian Air Force is Releasing a Mobile Game Complete with 'Gunslinger Moustache'
- Andre Russell Prepares for India with Late Evening Nets Session
- Netizens Call out Harbhajan Singh on 'Bigoted' Tweet about Chandrayaan-2 Success
- Best and Worst Day of my Cricketing Life – Guptill Looks Back at World Cup Final