Last month, Microsoft unveiled an enterprise-ready version of Sales Navigator, LinkedIn’s product for sales professionals. The move ramped up competition with rival Salesforce, which Microsoft beat in a bidding contest in June to acquire LinkedIn.
Before the announcement, the product already had plenty of top bracket customers including Ernst & Young, Symantec and Paypal. During the second fiscal quarter, Microsoft said the service saw subscriptions increase 20 percent year over year.
Shares of Microsoft hit a fresh all-time high of $68.31 on Wednesday, as they continue to climb past levels first reached in the dotcom bubble. As of its Wednesday close, the stock has surged more than 33 percent in the past 12 months.
— CNBC’s Harriet Taylor contributed to this report.
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