MSFT cross $60 per share for the first time since 1999

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Microsoft’s share price crossed $60 per share for the first time since 1999, after beating analyst expectations and showing strong growth in the all important cloud segment.

The “intelligent cloud” business rose 8.3% to $6.38 billion, beating analysts’ average estimate of $6.27 billion.

The news is a validation of Satya Nadella’s strategy of focussing on cloud enterprise services, underlined particularly by further falls in Windows and mobile, with revenue in that segment falling 1.8% to $9.29 billion.

More about the topics: microsoft, Microsoft Earnings, MSFT