Microsoft hits $4 trillion in valuation after layoffs

Microsoft reached a market capitalization of $4 trillion, becoming the second company in history to reach that valuation. Microsoft is now the most valuable company on the planet, only behind Nvidia. Climbing valuations are just after Microsoft More than 9,000 people have been fired, including major cuts on Xbox.

Microsoft reported earnings on Wednesday, and the company beat expectations. The company's stock price has since risen, helping to push Microsoft's overall valuation to more than $4 trillion. Since then, the stock price has dropped, bringing Microsoft below $4 trillion, but is still ranked second. Microsoft is currently trading at about $538 per share, up 28% per share and up 163% over the past five years.

The top five companies on the planet by market cap include Nvidia, Microsoft, Apple, Amazon and Alphabet.

Microsoft's revenue was $76.4 billion and profit was $27.2 billion in the quarter ended June 30. For Xbox business, Microsoft reports Annual Game Pass Revenues to Nearly $5 billion for the First Time50 million people tried Black Ops 6. In addition, Microsoft says Xbox has 500 million active users per month On all platforms, it covers consoles, PCs, mobile devices, and more.

Microsoft CEO Satya Nadella said on a revenue call that Microsoft is the “top publisher” on Xbox and PlayStation. Newly released U.S. video game sales data show Xbox Games dominates PlayStation's sales list.

Looking ahead, Microsoft plans to invest more in AI infrastructure and technology than before, and Microsoft Increase planned investment from $80 billion to $120 billion.

Nadella admits in the memo that people might want to know Why Microsoft lays off thousands of people for its business to flourish. “This is a mystery of success in an industry without franchise value,” he said.

For Xbox, Microsoft's clips include not only layoffs, but also game cancellations and closing at least one studio. Please refer to the gallery below for more information on how much you cut.