Microsoft does something that only Apple and Amazon have ever accomplished before

Microsoft does something that only Apple and Amazon have ever accomplished before

As always these days, Microsoft officials were keen to talk about the continued growth of the firm's Commercial Cloud business, which bundles services including Office 365, the Azure cloud and some LinkedIn and Dynamics revenues.

"Leading organizations of every size in every industry trust the Microsoft cloud, " said Microsoft CEO Satya Nadella.

Microsoft has seen something of a renaissance in recent years, combining its more recent success in cloud-computing with its legacy software to once again become a business powerhouse.

Software giant Microsoft (MSFT) reported its quarterly earnings for the third quarter of fiscal 2019 (quarter ended March 2019) on Wednesday, April 24, after the closing bell.

Azure's revenue increased by 73% in the third quarter, which was slightly down from the previous quarter, but there's plenty of room left for future growth as businesses continue to transition their servers and data storage to Azure's infrastructure.

According to IBES data from Refinitiv, Microsoft's flagship cloud product Azure alongside its so-called intelligent cloud unit, competing with market leaders likes of Amazon's Amazon Web Service, had posted a revenue of $9.65 billion over the first quarter of 2019, beating Wall St.

Microsoft said Wednesday that its revenue hit 30.6 billion USA dollars in the third quarter ending on March 31, 2019, up 14 percent from the same period previous year.

Microsoft's earnings per share of $1.14 beat expectations of $1.

Search advertising revenue excluding traffic acquisition costs increased 12 per cent (up 14 per cent in constant currency).

Stock prices fluctuate often - Apple and Amazon have both since lost their T prize, and Microsoft's value was already just under $1 trillion as of 10:30 a.m. ET. Net income ballooned 19 percent to $8.8 billion. From the latter, the biggest victor was in revenue from the company's Surface hardware arm at a 21 percent gain, with Windows commercial products and related cloud services growing 18 percent.

Shares of the company opened as much as $131, before paring gains to trade at $129.96 on Thursday morning, taking the company's valuation to $996.66 billion.

Office Commercial products cloud services increased by 12%, driven by Office 365 Commercial revenue growth of 30%.

The company's value has skyrocketed over the past year, thanks in no small part to its cloud services division.

Operating income was $10.3 billion and increased 25%.

Microsoft said in its guidance for the fourth quarter that it expects revenue in the range of $32.2 billion to $32.9 billion, which is more or less in line with Wall Street's consensus of $32.6 billion.

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