Microsoft is now the third-ever trillion dollar company.
announced earnings for the third quarter of its 2019 fiscal year on Wednesday, easily beating Wall Street estimates on the top and bottom lines.
The results made Microsoft the third-ever trillion dollar company in after-hours earning, following in the wake of Apple and Amazon.Microsoft's cloud just keeps growing, and Wall Street is eating it up. The 44-year-old tech titan boosted its revenue by 14% in the first three months of the year, sending its shares jumping up some 4% in after hours trading, bolstered by the continued rise of newer products like Microsoft Azure and Office 365.
The good news for Microsoft is that the company delivered: Its commercial cloud revenue, which includes products from across its business lines, accounted for $9.6 billion of revenue for the quarter, the company says. That's up 41% from the same period last year.
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