Microsoft surpasses Alphabet to become 3rd most valuable firm
-exclusive_vb_52.jpeg)
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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Bengaluru maximum temperature hit 38.5 degree Celsius on Sunday: IMD
Bengaluru: Offering no respite from the relentless heat, Bengaluru city recorded a maximum temperature of 38.5 degrees Celsius on Sunday, according to the weather watchers.
CP Patil, Director of Meteorological Centre, Indian Meteorology Department (IMD), Bengaluru said that on April 27, Bengaluru City hit 37.4 degree Celsius, about 3.3 degree Celsius departure from normal maximum temperature.
This year's record high is yet to surpass the all-time high of 39.2 degree Celsius recorded on April 25, 2016, Patil said.
Meanwhile, Kalaburgi, which has been recording the highest maximum temperature in Karnataka, witnessed a slight dip. It registered 40.5 degree Celsius on Sunday, while the day before it was 42.4 degree Celsius, according to the IMD data.
While Bengaluru will remain dry on April 30, possibly touching 39 degrees Celsius, IMD predicts light rain in some parts of Bidar, Kalaburgi, Yadgir, Vijayapura, Chikkamagaluru, Kodagu, Mysuru, Belagavi, Bagalkote and Raichur.
