Microsoft became the third US company to reach the monumental $1 trillion in market value, joining rivals Apple and Amazon, reports The New York Times. The tech giant reached the plateau on April 25, with the aid of its Azure cloud software, which is currently second behind Amazon for cloud services and ahead of Google’s own platform.
Microsoft reported quarterly revenue of $30.6 billion, up 14 percent from a year ago, with profit rising up 19 percent to $8.8 billion. Revenue for its Azure platform rose 73 percent in the quarter, while the tech giant is expected to continue to gain market share in the cloud computing industry.
Additionally, Microsoft’s latest earnings also revealed that the three main components of the company: Office, LinkedIn, and Dynamics; Azure cloud, server products, and enterprise services; Windows, Xbox, and Surface — are all contributing the same amount of revenue this quarter and doing well.