Microsoft MSFT opens up day after earnings beat

Microsoft opened nearly 4 percent up Friday, the day after a first quarter earnings beat.

The tech giant reported a 16 percent bump in sales for the quarter, led by revenue growth in its intelligent cloud segment.

Shares of Microsoft initially fell in after-hours trading Thursday following the report, but recovered on a positive outlook for future quarters.

The stock opened at $97.60, 3.5 percent higher than Thursday’s close of $94.26.

With Friday’s jump, Microsoft is up 13 percent on the year and more than 40 percent in the past 12 months.

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