Shares of Microsoft rose 4% to $37.51 on very heavy volume after the company reported adjusted fiscal second-quarter earnings of 78 cents a share on revenue of $24.52 billion, while analysts surveyed by FactSet expected 68 cents a share on revenue of $23.66 billion. Investors keen to hear whether Microsoft has made progress in naming a successor to Chief Executive Steve Ballmer were disappointed. Analysts on the company’s conference call didn’t ask anything about Ballmer’s replacement. Read our live blog of the call.
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