Microsoft tops trillion-dollar mark for first time

/ 10:26 PM April 25, 2019

NEW YORK, United States —  Microsoft hit the trillion-dollar value mark Thursday for the first time, becoming the third technology giant to reach the symbolic milestone.

Shares in Microsoft rallied some five percent to $130.59 in early Wall Street trade after a robust earnings report a day earlier.


That gave Microsoft a market capitalization of just over $1 trillion, before dipping back slightly.

At its current levels, Microsoft is the world’s most valuable company, ahead of Apple and Amazon, which last year topped $1 trillion before slipping back.

On Wednesday, Microsoft said profits in the quarter to March 31 rose 19 percent to $8.8 billion on revenues of $30.8 billion, an increase of 14 percent from the same period a year earlier.

The results were driven by growth in cloud computing and business services, the new focus for Microsoft after a long run as a leader in consumer software.

“This quarter was an absolute ‘blow out quarter’ across the board with no blemishes and in our opinion speaks to an inflection point in deal flow as more enterprises pick (Microsoft) for the cloud,” said Daniel Ives of Wedbush Securities.

“While the stock has been very strong and a trillion dollar market cap is now reached, we believe the cloud party is just getting started in Redmond.” /ee

TOPICS: Microsoft, technology news, trillion-dollar mark, valuation
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

For feedback, complaints, or inquiries, contact us.

Theater-related podcasts find a hub in new digital network

September 21, 2019 04:14 PM


AC Milan announces internal anti-racism task force

September 21, 2019 03:57 PM


Chris Cornell’s teen daughter releases song produced by him

September 21, 2019 03:57 PM


Magnitude 4.4 quake hits waters off Surigao del Sur

September 21, 2019 03:56 PM

© Copyright 1997-2019 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.