Shares in Microsoft rallied some five percent to $130.59 in early Wall Street trade after a robust earnings report a day earlier.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 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.”
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:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's Huawei to launch 5G at Africa Cup of Nations - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Huawei will roll out 5G phone network for the first time during this summer's Africa Cup of Nations, Egypt's minister of communications and information technology said on Sunday. Hauwei is a perfect example of what could be achieved when investing in R & D ESPECIALLY in partnership with Academia... Industry & Academia working together..... Good news It'll just cost you...
Source: SABC News Online - 🏆 32. / 51 Read more »
'Incredible' defence gives Brumbies victory in South Africa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Magnificent defending for long periods and opportunism on the rare occasions they attacked earned the Brumbies a 19-17 Super Rugby victory over the Stormers in Cape Town on Saturday.
Source: SABC News Online - 🏆 32. / 51 Read more »
China's Huawei to launch 5G at Africa Cup of Nations - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Chinese firm will introduce the technology at the 74,000-capacity Cairo International Stadium which is set to host 10 games including the final during the competition. Amazing😮 We need 5G in Africa how much are they sponsoring this tournament?Africa underpaid
Source: SABC News Online - 🏆 32. / 51 Read more »