Microsoft’s value reaches all-time high
Microsoft’s shares are at an all-time high after a bumper increase in quarterly revenue.
Revenue in the three months to June 30th increased 17 per cent to $30.1 billion compared with the same period last year.
The firm’s commercial cloud revenue has grown 53 per cent year-on-year to $6.9bn.
After the announcement the tech giant’s share price rose five per cent on Friday, adding £23bn to a valuation which now stands at £633bn.
“We had an incredible year, surpassing $100bn in revenue as a result of our teams’ relentless focus on customer success and the trust customers are placing in Microsoft,” said CEO Satya Nadella.
“Our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation.”
Microsoft’s value has more than doubled since Nadella took the helm in 2014.