Thursday, April 25, 2019

Microsoft hits $1 trillion market cap after earnings beat estimates | CNBC

Amazon announces its latest quarterly earnings today; also see Microsoft 3Q19 revenue up 14% on the back of strong cloud and, uh, Windows? | Ars Technica and this Benedict Evans tweet thread that starts with "Google is the new Microsoft and Microsoft is the new IBM."
"Microsoft shares are trading near a record after rallying 34% over the past year. The stock climbed past $130.50 in extended trading, pushing the market cap over $1 trillion.

Sales jumped 14% in the latest quarter, driven by the company’s transition to the public cloud as more large businesses offload their servers and data storage to Azure infrastructure. Gross margin, or the percentage of revenue left after accounting for the costs of goods sold, was 66.7% up from 65.4% a year earlier. Net income rose 19% to $8.8 billion.

Azure’s revenue surged 73%. Microsoft’s commercial cloud business, which includes Azure, grew 41% in the quarter to $9.6 billion. While Azure is still much smaller than rival Amazon Web Service, Stifel analysts say it’s growing faster than AWS was at a similar size."
Microsoft hits $1 trillion market cap after earnings beat estimates | CNBC

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