Microsoft edges above US$600 billion market cap

Microsoft’s commercial cloud offering edges above US$600billion, pushing the company closer (or higher) than the US$20billion annualised run-rate goal Microsoft set in 2015.

Microsoft executives have said they aim to meet its US$20billion goal in 2018 hitting an annualised revenue run rate of US$18.9billion in its fourth quarter.

KeyBanc analyst, Brent Bracelin, said to MarketWatch: “We have been impressed by solid execution and strong customer adoption of Microsoft’s cloud applications and platforms.

“Reaching US$20billion would imply the commercial cloud mix could cross over 20% of revenue for the first time in the first quarter of fiscal 2018, up from 5% in early 2015, similar to the multiyear transition at Adobe Systems we still view Microsoft in the early innings of cloud migration.”

Written by Leah Alger