Microsoft stock surges to a 17 year high in after hour trading following pleasant FY17 Q1 reporting

Microsoft, under the tutelage of cloud-centric CEO Satya Nadella, has recently managed to achieve something it hasn’t done in seventeen years and that’s cross $60 stock price for the company.

After reporting a fairly impressive FY17 Q1 earnings report in which Microsoft’s Surface division saw a 38% increase in revenue, Azure revenue up 116%, Xbox Live active user count increase to 47 million and Office 365 increasing its seat numbers to 85 million commercially, the company’s stock rose on the good news.

In after hour trading, Microsoft’s stock peaked around $60 per share, beating its previous Dot Com era standing which hovered around the meager $25-30 range.

Other financial tidbits from Microsoft’s FY17 Q1 report include earnings of 75 cents per share beating the street estimates of 68 cents per share for the quarter. Microsoft also raised $22.3 billion revenue in adjusted non-GAAP and brought in $4.7 billion net income for the quarter while returning $6.6 billion to shareholders in the form of share purchases and dividends.

To see the breakdown of Microsoft’s quarterly earnings, check out our other post on WinBeta for details on how the company has done for the three months ending September 30, 2016.

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