Microsoft shares touched all-time high in after-hours trading on 20 October, after the software giant posted better-than-expected first quarter results.
Net profit rose 6% from a year earlier to $6bn (£4.9bn) for the three months to 30 September, with adjusted earnings coming in at $22.3bn (£18.22bn).
Analysts had forecast revenue to come in at $21.7bn (£17.73bn).
The rise in profits was helped by an 8% jump in cloud revenue to $6.4bn (£5.23bn), with the firm reporting that the use of its Azure cloud computing platform had more than doubled since last year.
The news sent Microsoft shares 6% higher to $60.73 (£49.64) in New York, overtaking its previous peak of $59.97 (£49.02) in 1999 during the dot-com boom.
Amy Hood, chief financial officer at Microsoft said, “Our first quarter results showed continued demand for our cloud-based services”.
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