Microsoft Join Apple In Trillion Dollar Club
Microsoft has pushed past the trillion dollar market cap for the first time – the third tech company to do so – following strong cloud, electronics and software earnings growth.
The tech giant crossed the goalpost late last week, with shares spiking 5% in early trade after bumper Q3 results.
The news comes after Amazon and Apple surpassed the trillion dollar mark last year, however, both companies have since scaled back.
Revenue from its Surface division soared 21% year-on-year to US$1.3 billion, with its gaming segment also up 5%.
Windows OEM Pro revenue jumped 15%, with “improved chip supply” aiding both consumer and commercial PC sales.
Driven by a surge in cloud computing and business services, profit lift 19% to US$8.8 billion, with revenue climbing 19% year-on-year to US$30.8 billion.
For the quarter, Office commercial products and cloud services revenue jumped 12% YoY, with the company boasting over 180 million active monthly Office 365 business users.
Analysts claim there’s little to suggest a change in the upwards trend within the next few quarters.