14 DAY TRIAL // Microsoft posted strong financial results for the first quarter of fiscal year 2022, and this has propelled the company right on the leading position in the global chart of the most valuable firms.
As a result, Microsoft is now the world’s most valuable company with a market cap of $2.49 trillion, while the Cupertino-based rival Apple dropped to the second place with $2.44 trillion.
In case you’re wondering how this was possible, Satya Nadella, Microsoft’s CEO explained the company’s cloud offering just keeps bringing home the bacon, as the increase just doesn’t stop during these difficult times for the entire planet.
Microsoft’s strong performance during the quarter
At the same time, Nadella praised the performance of Windows, explaining that the pandemic has forced people to work from home, with PCs once again playing an important role in everybody’s lives.
“We are providing people and organizations everywhere with the most differentiated devices for productivity, learning, and gaming – and also have a massive opportunity to create a new class of applications that take advantage of the edge and AI capabilities in Windows, coupled with cloud. And Windows 11 is also the most open platform. It’s pioneering new store commerce models and policies. Both Amazon and Epic Games are bringing their marketplaces to the Microsoft Store,” Nadella says.
Microsoft’s CFO Amy Hood also praised the performance of the company’s cloud services.
“We again saw healthy growth in our Azure consumption-based business and increased usage across products such as Teams and Power Platform as Satya reflected in his comments. In our on-premises business, annuity performance in Office and Server benefited from a greater than expected mix of contracts with higher in-period revenue recognition. And in LinkedIn, the Talent Solutions business continued to benefit from an improved job market,” she said.
Whether or not Microsoft will maintain the leading spot is something that remains to be seen, but without a doubt, the cloud growth will continue during the current quarter even further.