Microsoft hits four trillion mark after quarterly earnings
(MENAFN) Microsoft's market capitalization surpassed the $4 trillion mark in after-hours trading on Wednesday, following a quarterly earnings report that exceeded analysts' forecasts. The company’s performance in the April–June period was fueled largely by rapid expansion in its Azure and cloud service segments.
The tech giant’s share price surged 8.28% to $555.74 in extended trading. Should this momentum carry over into Thursday’s regular market session, Microsoft would become the second firm to reach the $4 trillion valuation level, following Nvidia.
For the fiscal fourth quarter ending June 30, Microsoft reported a net income of $27.23 billion, a 24% rise from the $22.04 billion it recorded during the same period last year. The company also posted a revenue increase of 18%, reaching $76.44 billion compared to $64.7 billion the previous year.
Earnings per share also saw a 24% increase year-over-year, climbing to $3.65 for the quarter. All these figures came in ahead of market estimates.
Revenue from Microsoft’s server and cloud service offerings grew by 27%, bolstered by a 39% increase in Azure and other cloud-related sales. Additionally, the Productivity and Business Processes division—which includes LinkedIn and Microsoft Office products—generated $33.11 billion in revenue, marking a 16% gain from the previous year.
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