Microsoft Rises More Than 2% on Strong Earnings

Technology bellweather Microsoft

released its fiscal second quarter earnings results on Thursday after the closing bell. The company reported net income of $6.62 billion or $0.78 per share, which compares to net income of $6.63 billion or $0.77 per share in last year's fourth quarter. This beat Wall Street consensus EPS estimates of $0.76. Revenues at Microsoft came in at $20.89 billion, which was a 5% increase over the $19.95 billion that the company reported in the year ago period. Revenues, however, slightly missed Street consensus of $20.93 billion. In the after hours trading session, MSFT shares have risen 2.61% to $28.87 in the wake of the report.