Microsoft has hit the trillion-dollar value mark, becoming the third technology giant to reach the symbolic milestone.
Shares in Microsoft rallied some five per cent to $130.59 in early Wall Street trade after a robust earnings report recently.
That gave Microsoft a market capitalization of just over $1 trillion, before dipping back slightly.
At its current levels, Microsoft is the world’s most valuable company, ahead of Apple and Amazon, which last year topped $1 trillion before slipping back.
Recently, Microsoft said profits in the quarter to March 31 rose 19 per cent to $8.8 billion on revenues of $30.8 billion, an increase of 14 per cent from the same period a year earlier.
The results were driven by growth in cloud computing and business services, the new focus for Microsoft after a long run as a leader in consumer software.
Source: Punch
