Microsoft shares buoyed by sales news
SeattlePI | at | by Mike
Shares of Microsoft had their biggest rise in almost two years after third-quarter sales increased more than forecast. Investors are betting revenue growth in the coming year will beat Microsoft's estimate.
The shares rose 6.1 percent after the company said sales rose 17 percent to $9.18 billion. That exceeded Redmond-based Microsoft's forecast of as much as $8.7 billion. Chief Financial Officer John Connors said sales growth may drop to as low as 3.4 percent in the year beginning July 1. Some investors said they were skeptical of his estimate.