NEW YORK: Microsoft hit the trillion-dollar value mark Thursday for the first time, becoming the third technology giant to reach the symbolic milestone.
Shares in Microsoft rallied some five per cent to USD 130.59 in early Wall Street trade after a robust earnings report a day earlier.
That gave Microsoft a market capitalization of just over USD 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.
On Wednesday, Microsoft said profits in the quarter to March 31 rose 19 per cent to USD 8.8 billion on revenues of USD 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. (AGENCIES)
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