Microsoft shares hit record highs

  • 19/07/2019
Microsoft shares hit record highs

Microsoft Corp (MSFT.O) on Thursday surpassed analysts' assessments for incomes and profits in the fourth quarter, due to continued development in sales in the cloud business and sending shares to record highs.

Azure income advancement in the fiscal fourth quarter ended June 30 was 64% compared with 89% a year earlier and 73% in the previous quarter. Microsoft does not offer a complete measure of income for Azure, mixing it with the "intelligent cloud unit", whose income amounted to 11.4 billion dollars.

Microsoft also predicted from $ 10.3 billion to $ 10.5 billion in sales of intelligent cloud computing in the first fiscal quarter, with the standard estimate exceeding analysts' assessments of $ 10.13 billion. The forecast aided to raise Microsoft's stock by more than 2.6% to record highs above $ 140 during non-trading hours.

The advancement of cloud computing for the first time in April led to the fact that the market value of Microsoft exceeded $ 1 trillion. On Thursday, the Azure-based Microsoft business segment had somewhat more quarterly income than the Windows-based segment implemented for the first time.

As reported by Canalys, in cloud computing Azure’s main competitor is Amazon Web Services, which rules the industry with a market share of 32.8%. The share of Microsoft is 14.6%, and Google - 9.9%.

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