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| Microsoft shares at new high as cloud focus pays off | Microsoft shares at new high as cloud focus pays off |
| (35 minutes later) | |
| Microsoft's focus on cloud computing has helped it deliver better-than-expected quarterly profits, sending its shares to an all-time high. | Microsoft's focus on cloud computing has helped it deliver better-than-expected quarterly profits, sending its shares to an all-time high. |
| The software giant posted a $4.7bn (£3.8bn) profit for the three months to September. | The software giant posted a $4.7bn (£3.8bn) profit for the three months to September. |
| Chief executive Satya Nadella has focused on building Microsoft's expertise in cloud-based services amid slowing PC sales. | Chief executive Satya Nadella has focused on building Microsoft's expertise in cloud-based services amid slowing PC sales. |
| Shares rose 6% to $60.73 in after-hours trading. | |
| The previous high was $59.97 in December 1999, close to the peak of the dot-com boom, shortly before Steve Ballmer replaced Bill Gates as chief executive. | The previous high was $59.97 in December 1999, close to the peak of the dot-com boom, shortly before Steve Ballmer replaced Bill Gates as chief executive. |
| When Mr Nadella succeeded Mr Ballmer in 2014, Microsoft's shares were trading below $37. | When Mr Nadella succeeded Mr Ballmer in 2014, Microsoft's shares were trading below $37. |
| Changing environment | Changing environment |
| Investor confidence in Microsoft has been restored by focusing on mobile and cloud computing rather than its traditional hardware like its Windows operating system and its Office software. | |
| Individuals and businesses are increasingly accessing computing services such as servers, databases, software and storage that are provided over the internet ("the cloud"). | |
| And Mr Nadella said the changing business environment meant this was paying off. | And Mr Nadella said the changing business environment meant this was paying off. |
| "It's not just the Silicon Valley startups anymore; it is the core enterprise that is also becoming a digital company. And we are well-positioned to serve them," Mr Nadella said. | "It's not just the Silicon Valley startups anymore; it is the core enterprise that is also becoming a digital company. And we are well-positioned to serve them," Mr Nadella said. |
| Revenue from Microsoft's Office 365 cloud service increased 8% in the quarter while revenue from its Surface tablet - pitched as a rival to the iPad - rose 38%. | Revenue from Microsoft's Office 365 cloud service increased 8% in the quarter while revenue from its Surface tablet - pitched as a rival to the iPad - rose 38%. |
| And while revenue from its flagship Xbox - Microsoft's games console - fell, the number of people playing online rose to 47 million from 39 million a year. |