That capped a surprisingly good year for the fund manager, as assets under management ended up rising 22% to $1.47 trillion. Net revenue jumped 18% to $1.73 billion, with net income soaring 44% to $783 million. Rowe Price's results show how lucrative the business still is. The company had strong fourth-quarter results that showed how popular its fund offerings still are even as investing has changed dramatically. Rowe Price ( TROW -1.64%) hit all-time highs Thursday, climbing more than 5%. A longtime fund giant with a modern approachĭigging even further into the little-followed realm, fund manager T. There are strong fundamentals underlying the stock, and that's why investors can feel confident about Microsoft's chances to keep producing solid long-term returns. Microsoft has come a long way quickly, but its gains haven't been triggered by any short-term trading considerations.
Yet Azure doesn't get the same recognition as Amazon's Web Services division. Microsoft Azure has picked up some key wins lately, most notably when General Motors ( GM -5.05%) agreed to have Microsoft become a partner in its Cruise electric vehicle venture in exchange for giving Azure a prominent status with Cruise and GM. Most investors believe that Microsoft's future lies in maximizing its growth in cloud computing. As we've seen repeatedly in recent quarters, cloud growth stood out, with total revenue climbing 23% on a 26% rise in server products and cloud services sales. Microsoft saw consistently good performance across almost its entire corporate footprint, as sales jumped double-digit percentages in the productivity and business processes, intelligent cloud, and more personal computing segments. The numbers were strong, with revenue climbing 17% year over year and net income soaring by 33% from year-ago levels. The good news for Microsoft started earlier this week, when the company announced its fiscal second-quarter financial results.
Stock investment guide volume 2 software#
The move sent the software giant's market capitalization above $1.8 trillion, and despite an impressive advance over the past year, many investors in Microsoft see further upside ahead. Shares of Microsoft ( MSFT -1.32%) were up more than 3% on Thursday afternoon.
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