Microsoft stock (MSFT) climbed $3.64, or 3.49% to $104.40 in pre-market trading on Friday, following solid fourth-quarter earnings and a rosy fiscal 2019 first-quarter outlook.

The company handily beat Wall Street estimates on both earnings and revenue. On a conference call with analysts, Microsoft CFO Amy Hood said the company sees first-quarter revenue of between $27.35 billion to $28.05 billion.

MSFT Earnings & Outlook

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The tech giant earned $8.87 billion, or $1.14 per share during the fourth quarter of 2018. In the same period last year, it earned compared $8.07 billion, or $1.03 per share. Adjusted for one-time items, earnings came in at $1.13 per share.

Total sales jumped from $25.61 billion in the previous year, to $30.09 billion. Analysts expected adjusted earnings of $1.08 per share on sales of $29.21 billion.

Meanwhile, revenue from its Productivity and Business Processes segment totaled to $9.67 billion, ahead of estimates of $9.68 billion.

Intelligent Cloud and More Personal Computing segments had net sales of $9.61 billion and $10.81 billion, respectively. During the fourth quarter of fiscal 2017, both segments posted net sales of $7.82 billion and $9.24 billion, respectively.

For fiscal 2019 first-quarter, the company expects its segments to generate revenues as follows: Intelligent Cloud ($8.15 billion to $8.35 billion), Productivity and Business Processes ($9.25 billion and $9.45 billion), and More Personal Computing ($9.95 billion to $10.25 billion).

Microsoft Corp. CEO Comments

“We had an incredible year, surpassing $100 billion in revenue as a result of our teams’ relentless focus on customer success and the trust customers are placing in Microsoft. Our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation,” said Satya Nadella, chief executive officer of Microsoft.