Microsoft stock hits all-time high with strong year-over-year performance
Microsoft stock hit a record high Tuesday on the strength of its strong year over year performance, as the software giant continued to benefit from the strong Windows 10 sales momentum.
The tech giant reported $1.19 billion in net income for the quarter ended June 30, according to the company’s third-quarter financial results released Tuesday.
The company also reported a $1 billion increase in net revenue for the third quarter of the fiscal year, which ended March 31.
For the quarter, Microsoft posted record revenue of $10.5 billion, up from $9.7 billion the year prior.
Microsoft is a company that has been focused on making software for Windows 10 since its launch in March.
The company has long maintained that Windows 10 will be the future of computing, and the platform has seen continued momentum.
The Windows 10 rollout, which started in October, has seen Windows users install more than 30 million apps and have become the fastest-growing smartphone operating system ever.
In the latest earnings call, Microsoft CEO Satya Nadella said Microsoft had sold more than 7 million Windows 10 devices during the quarter.
He noted that the platform was now “on pace to become the most popular PC operating system in the world,” and that the company is currently seeing strong demand for Windows 7 and 8.1.