Huffpost Business

Microsoft's Profit Rises 79 Percent

Posted: Updated:

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.

Read the whole story at Reuters