This marks Microsoft’s entrance into an exclusive club with a membership requirement of $1 trillion or more in market capitalization, and it’s earned the title of the world’s most valuable company.
As a result of better-than-expected earnings and revenue, shares of the software giant rose more than 4% in after-hours trading. A strong performance from the company’s Windows, Xbox/gaming, search advertising, and Surface businesses contributed to Microsoft’s third-quarter revenue of $30.6 billion and its net income of $8.8 billion.
Microsoft has become the third US company to reach that level, as well as the most valuable US company based on the total value of all of a company’s shares. Apple was the first US company to reach the $1 trillion mark in August, but its current market cap is $976 billion. Amazon briefly followed Apple a month later, but now has a $935 billion value.
