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.
Rajasthan: Nursing student found dead with slit throat in Khairthal-Tijara district; accused held
Jaipur (PTI): A 20-year-old nursing student was found murdered with her throat slit in a rented room in Khairthal-Tijara district of Rajasthan, police said on Saturday.
The incident took place in a residential building in front of Mundawar police station on Friday afternoon, they said.
The accused, Upendra Kumar (21) from Haryana's Mahendergarh, was arrested while trying to flee the spot.
The father of the deceased alleged that his daughter was kidnapped, raped and then killed.
The incident sparked outrage among local residents, who blocked the main road for about 30 minutes before police dispersed them.
Police said the accused lived in the same rented premises.
Mundwar Station House Officer Ramniwas Meena said Upendra Kumar has been arrested based on complaint filed by the deceased woman's father.
Meanwhile, Leader of Opposition Tikaram Jully termed the murder proof that women remain highly unsafe in Rajasthan and accused the BJP government of turning a blind eye to such crimes.
"It is being proved that women are extremely unsafe in Rajasthan. A nursing student was abducted, raped and brutally murdered by slitting her throat in Mundawar. People are outraged but the BJP government has shut its eyes and ears to everything," he said.
