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.
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.
When Mr Nadella succeeded Mr Ballmer in 2014, Microsoft's shares were trading below $37.
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.
"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%.
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.
Latest Stories
-
Global Football Festival promises football museum and music experience on December 27
55 seconds -
Saudi warnings about market attack suspect were ignored
1 minute -
Trump threatens to try to regain control of Panama Canal
9 minutes -
Court orders police to determine gender of accused
14 minutes -
Ghana’s gold production to rise marginally by 3% in 2025 – Deloitte
16 minutes -
A man’s suicide leads to clamour around India’s dowry law
17 minutes -
Asante Gold Corporation enters into $500m agreement with Fujairah Holdings LLC
21 minutes -
ECG Power Queens support Ho Female Prison
1 hour -
Don’t appoint a new EC Chair; allow Jean Mensa to work – Prof. Stephen Adei to Mahama
2 hours -
Bayer Leverkusen’s Jeremie Frimpong arrives in Ghana for visit
2 hours -
‘It will be disastrous if Mahama removes the Chief Justice’ – Prof. Stephen Adei
2 hours -
Jean Mensa must step down as EC Chair – APC and Movement for Change assert
3 hours -
Akufo-Addo calls on police to refine strategies to avoid prolonged electoral unrest
3 hours -
Only NPP looting brigade unhappy about ORAL – Ablakwa
3 hours -
CSIR-SARI introduces integrated soil fertility management technology to boost maize production
3 hours