nsb

Oct 22, 2016

Microsoft sees shares hit record high

Microsoft's focus on cloud computing has helped it deliver better-than-expected quarterly profits, sending its shares to an all-time high.

The software giant posted a $4.7bn (£3.8bn) profit for the three months to September.

Chief executive Satya Nadella has focused on building Microsoft's expertise in cloud-based services amid slowing PC sales.

Shares rose 6% to $60.73 in after-hours trading.

The previous high was $59.97 in December 1999, close to the peak of the dot-com boom, shortly before Steve Ballmer replaced Bill Gates as chief executive.

When Mr Nadella succeeded Mr Ballmer in 2014, Microsoft's shares were trading below $37.

(BBC News)

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