<img title="Microsoft surpasses Alphabet to become third most valuable firm" src="https://images.mid-day.com/images/2018/may/Microsoft-rep.jpg" alt="Microsoft surpasses Alphabet to become third most valuable firm" />
Representational picture
San Francisco: Microsoft has surpassed Alphabet, the parent company of Google, in the market capitalisation for the first time in three years, becoming the third most valuable firm after Apple and Amazon globally. According to a report in Investor's Business Daily late Tuesday, Microsoft had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet.
Apple leads with a market cap of nearly $924 billion and Amazon is at distant second, with nearly $783 billion.
The credit for Microsoft's rise goes to its CEO Satya Nadella who has been strategically restructuring the company towards Cloud and Office offerings.
Driven by consistent growth in its Office and Cloud solutions, Microsoft posted a revenue of $26.8 billion and net income of $7.4 billion in its third quarter that ended on March 31.
"We are innovating across key growth categories of infrastructure, AI, productivity and business applications to deliver differentiated value to customers," Nadella said.
Office commercial products and Cloud services revenue increased 14 per cent -- driven by Office 365 commercial revenue growth of 42 per cent.
The Azure cloud offering had 93 per cent revenue growth. Revenue in Productivity and Business Processes was $9 billion and increased 17 per cent in the quarter.
Microsoft now has over 135 million active Office 365 business users, with 30.6 million Office 365 consumer users.
Revenue in Intelligent Cloud was $7.9 billion and increased 17 per cent.
Catch up on all the latest <a title="mid-day news" href="https://www.mid-ay.com/news" target="_blank">Crime, National, International and Hatke news</a> here. Also download the new mid-day <a title="mid-day android app " href="https://goo.gl/8Xlcvr" target="_blank">Android</a> and <a title="mid-day iOS app" href="https://goo.gl/KQziH4" target="_blank">iOS</a> apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

According to a report in Investor's Business Daily late Tuesday, Microsoft had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet

Microsoft surpasses Alphabet to become third most valuable firm

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / Technology / Article / Microsoft surpasses Alphabet to become third most valuable firm

Microsoft surpasses Alphabet to become third most valuable firm

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast