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.
MP: 7-year-old girl raped and murdered; minor relative detained
Barwani (MP), Jan 28 (PTI) Police on Wednesday detained a 17-year-old relative of a seven-year-old girl in Barwani district of Madhya Pradesh for allegedly raping her and killing her by throwing her into a canal, a police official said.
Superintendent of Police Jagdish Dawar told reporters that the body of the child was recovered from the Indira Sagar Canal on January 26, following information from residents of a village in the Rajpur police station area of the district.
He said the post-mortem report concluded severe injuries to the girl’s private parts and attributed her death to drowning.
Dawar said a 17-year-old boy, a close relative of the girl, has been detained in connection with the rape-murder.
The teenager told the police that he kidnapped the girl from her home on the night of January 25 while her family members were asleep, took her to a nearby canal and raped her, according to the official.
When the girl started screaming during the sexual assault, the minor boy allegedly threw her into the canal, with the intention of killing her. The child drowned in the water body, the official said.
The detained minor will be produced in a juvenile court.
A case has been registered under the Protection of Children from Sexual Offences Act and the Bharatiya Nyaya Sanhita, and an investigation is underway, he added.
