Microsoft shares hit high as cloud business flies above estimates

In the cloud: Microsoft Corp is introducing a complete set of cloud services from data centres in Britain as demand for data localisation spreads across Europe and around the world. — Reuters

Microsoft Corp said sales of its flagship cloud product doubled in its first quarter, propelling earnings above analysts' estimates and sending its shares to an all-time high, breaking past a level hit in 1999 at the peak of the tech stock bubble. 

The company's shares have doubled since August 2013 with chief executive Satya Nadella restoring investor confidence by focusing on mobile and cloud computing rather than PCs.