Microsoft On ‘Cloud’ Nine: Reaches $1 Trillion Market Cap After Excellent Quarterly Results

Microsoft CEO, Satya Nadella. (Stephen Brashear/Getty Images)

Riding on impressive earnings from its cloud computing services, internet giant Microsoft Corp touched the $1 trillion market cap for the first time, though for a brief period, reports Mint.

Thanks to sustained growth in its cloud computing business and a boost in the Windows revenue, the Washington-based company toppled Wall Street estimates for quarterly profits and revenue. Microsoft's earnings per share of $1.14 beat street expectations of $1.

Once heavily reliant on Windows operating system, Microsoft under CEO Satya Nadella has seen a massive shift towards cloud computing over the past five years. Presently, Microsoft’s flagship cloud product Azure competes with market leader Amazon Web Services (AWS).

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Though Azure is still much smaller than rival Amazon Web Service, analysts note that it’s growing faster than AWS was at a similar size.

Microsoft’s commercial cloud revenue, including Azure, Office 365 and LinkedIn stood at $9.6 billion this quarter, up 41 per cent from the previous year but down slightly from the 48 per cent growth rate registered in the last quarter.

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