Microsoft surpasses Alphabet to become 3rd most valuable firm
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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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100 stray dogs ''poisoned'' to death near Hyderabad, case booked
Hyderabad (PTI): In yet another incident of stray dog killings, nearly 100 canines were allegedly "poisoned to death" in Yacharam village near here following which a case was registered against a sarpanch and two others for their alleged involvement in the act, police said on Wednesday.
The fresh incident follows killing of nearly 500 stray dogs in different districts of Telangana since January 6.
An animal welfare activist, associated with Stray Animal Foundation of India, in a complaint filed with Yacharam Police Station alleged that the dogs were injected with some poisonous substances on January 19.
A case was registered under relevant sections of BNS and Prevention of Cruelty of Animals Act against the sarpanch, secretary and ward member of Yacharam gram panchayat on Tuesday, a police official said.
As per the complainant, 100 dogs were killed, but based on preliminary investigation and after verifying with villagers around 50 dogs were found to be killed, though further probe is on in this regard, the official said.
An investigation is also underway to find out the carcasses of the dogs, he said.
Earlier, police in Hanamkonda district had booked nine persons, including two women sarpanches and their husbands, in connection with the alleged killing of around 300 stray dogs in Shayampet and Arepally villages.
In another incident, around 200 stray dogs were allegedly killed in Kamareddy district, and a case was booked against six persons, including five village sarpanches, for their alleged involvement in the incident.
It is suspected that some elected representatives, including sarpanches, allegedly carried out the killings to "fulfill promises made to villagers" ahead of gram panchayat elections held in December last year, to tackle the stray dog menace.
