Microsoft Corporation’s (NASDAQ:MSFT) resurgence continues with its share price set to open at an all-time high when the Nasdaq stock exchange opens on Friday.
The software giant spent some time in the relative wilderness throughout the noughties, but since 2009 shares have been on the comeback trail.
A forecast-beating set of second quarter results announced on Thursday evening sparked investors’ interest in after-hours trading and the share price is set to open at US$65.19, topping the previous high set in October last year.
Before that, the previous record was set just before Christmas in 1999 – more than 17 years ago.
Washington-headquartered Microsoft beat Wall Street expectations with its second quarter results. Adjusted earnings rose to US$0.83 per share from US$0.78 a year earlier, on adjusted revenues of US$26.1bn.
Analysts had expected adjusted EPS of US$0.79 on US$25.3bn in adjusted revenue.