Profits were boosted by new clients and demand for cloud computing.
Microsoft Corp's market value vaulted above the $1 trillion mark for the first time in regular session trade on Thursday, pulling ahead of Apple Inc and making it the most valuable USA publicly traded company after quarterly earnings and revenue beat Wall Street expectations.
Microsoft shares climbed past $130.50 at the end of trading on Wednesday, pushing the company's market cap over $1 trillion.
Shares rose 3 percent after the bell, adding to the about 23 percent gain so far this year. The deals reflect CEO Satya Nadella's efforts to draw some customers away from cloud market leader Amazon.com and ink more significant clients.
The transition to the cloud continues to shift where Microsoft makes its money: while commercial Office 365 revenue was up 30 percent, perpetually licensed Office revenue fell by 19 percent. The metric is used by investors to measure a company's size. That compared to an analyst average estimate of $10-billion. Microsoft also is benefiting as more traditional companies that are longtime customers move to the cloud. A growing proportion of Microsoft's software sales are billed as recurring subscription purchases, which are more reliable than one-time purchases.
Democrats are warming to the idea of felons voting from prison
I don't think so", he said . "I think I have written many 30 second opposition ads throughout my life", Sanders replied. Meanwhile, a conversation has been sparked about Constitutional rights, crime and punishment, and racial inequality.
Kim, Putin to meet Thursday in Russia's Far East
After the talks stalled in February with Trump, Kim wants to prove he is still sought after with other foreign leaders. The meeting is likely to be met with anger in Washington, with Trump's administration feeling Kim is toying with them.
Spark cautiously optimistic as United Kingdom allows Huawei into 5G
Australia, which shares intelligence with the United Kingdom , banned Huawei from supplying all 5G equipment last August. Reports have also circulated that the CIA concluded the company had taken money from Chinese government agencies.
Microsoft says that Windows OEM revenue increased primarily due to better chip supply and even better demand, so a flawless storm of supply and demand.
Amid a decline in its legacy Windows software business, much of Microsoft's growth in recent years has come from selling its cloud services to other businesses and governments.
Sales of Intelligent Cloud products, comprised of Azure and server software, will be US$10.9 billion to US$11.1 billion in the current quarter, Hood said on a conference call.
Surface revenue was up 21 percent. Hood forecast up to $10.75 billion in revenue for the unit for the fourth quarter. And more importantly for Microsoft, it owns a slew of Android-related patents that bring in a huge sum of money every year.
Microsoft reported quarterly revenue of $30.6 billion, up 14 percent from a year ago.