Microsoft (MSFT) Nears 52-Week High After Earnings

Microsoft’s (Nasdaq: MSFT) quarterly earnings were up 6% from the same period a year ago. As a result, its stock received a similar bump.

Shares of Microsoft jumped 5.5% today to close near its 52-week high of $32.95.The stock is now up 26% for the year, but still trading at less than 12 times earnings.

Corporate customers boosted the tech stock's sales. Businesses continued to gobble up the company’s Windows and Microsoft cloud computing services, helping the company’s corporate unit increase its revenue 9% from a year ago.  

Overall, Microsoft’s earnings of 60 cents a share outdid consensus analyst expectations of 57 cents a share. While the company’s entertainment and devices and online services divisions continued to lose money against stiff competition, PC sales were strong enough to overcome those weaknesses.

More encouraging for the future of the company’s stock is the impending launch of three key products. Later this year, Microsoft will unveil its new Windows 8, Office 15 and Windows Phone 8 products. Those debuts should help the company continue to grow sales in several areas of its diverse business.

So while Microsoft’s earnings looked pretty good last quarter, they could look even better later in the year.