BUSINESS
03/28/2008 02:45 am ET | Updated May 25, 2011

Microsoft's Profit Rises 79 Percent

Microsoft (MSFT.O) signaled confidence to a rattled stock market by raising its full-year earnings outlook above Wall Street targets and reporting a 79 percent rise in quarterly profit on Thursday.

Analysts took the results as a good sign for technology companies in the face of a slowing economy, and Microsoft shares rose 4.5 percent in after-hours trade. That followed a 4 percent gain in regular trade, representing a gain of more than $26 billion in its market value for the day.

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