Microsoft Shares Rally On Earnings Beat

Microsoft Corp. shares rallied in the extended session Thursday after the company topped Wall Street estimates for the quarter. Microsoft shares surged 7.9% to $56.15 after hours. The company reported fiscal second-quarter earnings of 62 cents a share on revenue of $23.8 billion, or 78 cents a share on revenue of $25.69 billion adjusted. Analysts surveyed by FactSet had forecast earnings of 71 cents a share on revenue of $25.27 billion. Microsoft said cloud-services revenue rose 5% to $6.3 billion for the quarter.