Microsoft Shares Jump 5% From Historic Revenue
Microsoft shares jumped 5 per cent after the news the company hit US$100bn in yearly revenue for the first time in the company’s history.
On Friday, shares rose to $108.20 adding US$30bn to its market capitalisation.
Microsoft’s results can be attributed to growth in its cloud computing services and legacy software business.
According to Reuters, since 2014 when CEO Satya Nadella came on board the company’s market value has more than doubled.
The tech giant released its fourth quarter results with its revenue coming in at US$30.1bn, an increase of 17 per cent and its operating income grew 35 per cent to US$10.4bn.
Currently, the tech giant is up 1.79 per cent on the NYSE coming in at US$106.27. Its market value is at US$822.12bn.