Microsoft Shares Soar to Record on Earnings Boost From Cloud
- Azure cloud-computing services revenue more than doubles
- Nadella’s shift to internet-based tools helps counter PC slump
Microsoft's Cloud Shift Pays Off in Record High Shares
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Microsoft Corp. shares soared to a record high Friday after the software giant reported first-quarter sales and earnings that topped analysts’ estimates, buoyed by growing demand for cloud-based software and services.
The shares surged as much as 5.6 percent to a record $60.45. The last time Microsoft was trading near that level was in 1999.