San Francisco, May 30: 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.

 

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Bengaluru, Dec 26: A Japanese national, Hiroshi Sasaki, who works in Bengaluru, lost Rs 35.5 lakh after being 'digitally arrested' by cyber fraudsters, police said, on Thursday.

 

The incident occurred between December 12 and 14, police added.

Sasaki, who lives in a flat near Dairy Circle, received a phone call on December 12. The caller was claiming to be from the Telecom Regulatory Authority of India. The caller informed him that his phone number would be blocked due to its unauthorised use.

To avoid the disconnection Sasaki was asked to dial a number.

Upon dialling the number, he was immediately connected to a WhatsApp call from someone claiming to be from the Cyber Crime wing of Mumbai Police. The caller informed Sasaki that he was involved in a money laundering case.

The fraudsters "digitally arrested" him and siphoned off Rs 35.5 lakh by having him make payments through various means, including RTGS.

He was also told that the money would be returned after the investigation was completed.

After realising that he had been duped, the victim approached the South East Cyber Crimes, Economics and Narcotics (CEN) police station and lodged a complaint.

'Digital arrest' is a new cyber fraud, where the fraudster poses as law enforcement agency officials from agencies like CBI, and customs and threatens people of arrest by making video calls.

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