Microsoft becomes second company to reach $4 trillion valuation
NEW YORK, 14 hours, 56 minutes ago
Microsoft has announced that it has become the second company in history to surpass a market capitalisation of $4 trillion, following sustained momentum in its stock performance.
Chipmaker Nvidia continues to lead the market with a valuation of $4.4 trillion.
Microsoft’s strong showing was driven by a surge in its share price following robust quarterly results, with accelerated growth reported in the financial quarter ending in June.
The company’s stock rose by as much as 5% at the start of trading in the US propelled by significant gains in artificial intelligence and cloud computing services.
In the most recent quarter, Microsoft’s revenue increased by 18%, exceeding $76 billion, while net profit rose by 25% to hit $27 billion.-TradeArabia News Service
