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Microsoft shares hit all-time high after earnings beat

Steve Ballmer: Microsoft is a 'fantastic' company

Shares of Microsoft hit a new all-time high Friday morning, surpassing its previous record set during the tech bubble, after reporting better-than-expected earnings.

The stock set a new all-time intraday high of $60.45 a share in early trading. Microsoft's previous record was $59.97 a share from Dec. 30, 1999.

The stock gained 4 percent during the session, its best daily performance since July 20 when the stock gained 5.31 percent. More than 79.9 million shares changed hands on Friday, easily surpassing the stock's 30-day average volume of about 25 million shares.