Microsoft’s bullish run has continued as the company entered the ultra-exclusive $2 trillion club. The company reached a $1 trillion market cap for the first time in 2019 — which means it took just two years to double that figure.
In the last quarter, the company posted a record revenue of $41.7 billion with 19% year-on-year growth. Its profit for that quarter was $15.5 billion — a 44% jump from 2020.
While most verticles from 2019, remain the same, the company’s cloud offerings have consistently shown tremendous expansion.
Apple is the only other publically traded American company with a market cap above $2 trillion. Saudi Arabian il company Saudi Aramco has previously passed this milestone, but its current valuation is under that mark.
As CNN noted, Microsoft share prices have climbed 64% since March 2020. That’s an indication of how the comapny’ show the company’s products, including Teams, Office, Windows, and Azure cloud offerings have helped the world adapt to work-from-home culture during the pandemic.
Under Satya Nadella’s leadership, the company has thrived in the past few years. And that’s why he was also made the firm’s chairman last week.
This is a milestone for Microsoft just ahead of its June 24 event, where the company will unveil the next version of Windows — rumored to be named Windows 11. The company’s last major operating system update, Windows 10, was in released in 2015.