“Boringly excellent.” This is how a Wall Street analyst summed up Microsoft’s latest quarterly results. The Satya Nadella-led tech giant has recently entered the exclusive $1 trillion club.
After Apple and Amazon, Microsoft is the third company to touch the market value of $1 trillion. The Richmond-based company has seen massive growth ever since Nadella took over as its CEO in 2014.
Nadella writes in his book Hit Refresh that it’s in the soul of Microsoft “to help every individual and organisation to achieve more”.
“The transformation is about meeting customer needs even before they ask, and Microsoft employees have to take that to heart,” says Nadella.
“The world is about cloud first, mobile first,” said Nadella on his first day as the CEO of Microsoft.
Steve Ballmer was the CEO of Microsoft before Nadella. As per a CNBC report, stock prices of Microsoft “went sideways” when Ballmer was at the helm. However since Nadella took over in 2014, Microsoft’s stock prices rose to over 14% in the first year itself, followed by a jump of 21% a year later in 2015.
Nadella has also emphasisedthe importance of AI in his previous interviews. He had said, “AI is perhaps the most transformative thing that’s ever happened.”
The two biggest acquisitions that took place under Nadella are LinkedIn and Github. Github has helped Microsoft with the developer community, whileLinkedIn continues to be a consistent revenue generator.
In an interview with Wired, Nadella said, “It’s all about the future and every industry is like that nowadays. Being successful in the past means nothing.”
Microsoft’s revenue from commercial cloud grew by 41% in the last quarter and is now up to $9.6 billion beating market expectations.
Not just this, devices like Surface, Xbox, and Windows contributedover $10.7 billion to the tech giant this quarter.
Microsoft’s revenue increased by 15.4% to $122.2 billion in the past one year. Its net profit has also skyrocketed by 27.4 per cent to $33.4 billion.