Microsoft becomes a $1 trillion company after reporting earnings that blew away Wall Street estimates

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Microsoft is now the third-ever trillion dollar company.

announced earnings for the third quarter of its 2019 fiscal year on Wednesday, easily beating Wall Street estimates on the top and bottom lines.

The results made Microsoft the third-ever trillion dollar company in after-hours earning, following in the wake of Apple and Amazon.Microsoft's cloud just keeps growing, and Wall Street is eating it up. The 44-year-old tech titan boosted its revenue by 14% in the first three months of the year, sending its shares jumping up some 4% in after hours trading, bolstered by the continued rise of newer products like Microsoft Azure and Office 365.

The good news for Microsoft is that the company delivered: Its commercial cloud revenue, which includes products from across its business lines, accounted for $9.6 billion of revenue for the quarter, the company says. That's up 41% from the same period last year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Uhh, forgot about the Dutch East India Company?

Shit... is it now safe to pirate Windows Vista ?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Boeing's stock swings higher after Q1 results, which include $1 billion increased cost for 737 businessBoeing Co.'s commercial airplanes business suffered first-quarter declines in profit, revenue and margin in the wake of groundings of its 737 MAX planes... $BA is not a stock which could grow.. Beautiful! 'Boeing's stock has gained 4.4% over the past three months through Tuesday, while the Dow Jones Industrial AverageDJIA+0.55% has gained 8.6%...'
Source: MarketWatch - 🏆 3. / 97 Read more »

Wirecard lands $1 billion investment from Japan's SoftbankJapan's Softbank Group Corp will buy a 5.6 percent stake in Wirecard for ar...
Source: Reuters - 🏆 2. / 97 Read more »